Fox Run Management L.L.C. Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Fox Run Management L.L.C. purchased a new position in AXIS Capital Holdings Limited (NYSE:AXS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,207 shares of the insurance provider’s stock, valued at approximately $816,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in AXIS Capital by 1.7% in the 4th quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after buying an additional 53,514 shares during the last quarter. State Street Corp boosted its stake in AXIS Capital by 7.2% in the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock worth $134,110,000 after buying an additional 112,536 shares during the last quarter. Jennison Associates LLC boosted its stake in AXIS Capital by 1.6% in the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock worth $146,309,000 after buying an additional 25,908 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AXIS Capital by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after purchasing an additional 43,687 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of AXIS Capital in the 4th quarter worth about $88,175,000. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Stock Performance

Shares of NYSE:AXS opened at $95.00 on Monday. The company has a market cap of $7.67 billion, a P/E ratio of 7.69, a PEG ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital Holdings Limited has a one year low of $60.45 and a one year high of $98.11. The business’s 50-day simple moving average is $91.93 and its 200 day simple moving average is $87.12.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, sell-side analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.85%. AXIS Capital’s dividend payout ratio is presently 14.25%.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AXS. Wells Fargo & Company cut their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. TD Cowen raised their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and an average price target of $100.25.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.