KLP Kapitalforvaltning AS Invests $2.44 Million in AXIS Capital Holdings Limited (NYSE:AXS)

KLP Kapitalforvaltning AS bought a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,400 shares of the insurance provider’s stock, valued at approximately $2,440,000.

Other hedge funds have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in AXIS Capital in the fourth quarter valued at about $851,000. Sei Investments Co. raised its holdings in shares of AXIS Capital by 10.7% during the 4th quarter. Sei Investments Co. now owns 487,086 shares of the insurance provider’s stock valued at $43,166,000 after buying an additional 47,119 shares during the period. American Century Companies Inc. lifted its position in AXIS Capital by 1.7% during the 4th quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after acquiring an additional 53,514 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in AXIS Capital by 9.9% in the 4th quarter. Teacher Retirement System of Texas now owns 118,169 shares of the insurance provider’s stock worth $10,472,000 after acquiring an additional 10,619 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in AXIS Capital in the fourth quarter valued at approximately $924,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AXS. BMO Capital Markets began coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on shares of AXIS Capital from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, March 13th. Wells Fargo & Company reduced their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.25.

AXIS Capital Trading Up 0.0 %

NYSE:AXS opened at $99.72 on Friday. The company has a market cap of $8.06 billion, a PE ratio of 8.07, a P/E/G ratio of 3.96 and a beta of 0.91. The business’s 50 day moving average is $92.81 and its two-hundred day moving average is $87.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 52 week low of $60.45 and a 52 week high of $100.78.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid 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 1.76%. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Insider Buying and Selling

In other news, Director Charles A. Davis sold 2,234,636 shares of the 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 approximately $406,613,715. This represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

AXIS Capital Profile

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.