SVB Wealth LLC Acquires Shares of 2,932 AXIS Capital Holdings Limited (NYSE:AXS)

SVB Wealth LLC bought a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,932 shares of the insurance provider’s stock, valued at approximately $260,000.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of AXIS Capital by 48.6% during the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after purchasing an additional 121,437 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of AXIS Capital during the 3rd quarter worth $638,000. Verition Fund Management LLC acquired a new stake in shares of AXIS Capital during the 3rd quarter worth $453,000. Entropy Technologies LP acquired a new stake in shares of AXIS Capital during the 3rd quarter worth $507,000. Finally, Jennison Associates LLC grew its holdings in shares of AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after purchasing an additional 318,784 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

AXIS Capital Price Performance

AXIS Capital stock opened at $94.75 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.65 billion, a PE ratio of 7.67, a P/E/G ratio of 3.96 and a beta of 0.95. AXIS Capital Holdings Limited has a 12 month low of $60.06 and a 12 month high of $98.11. The stock has a 50-day moving average price of $90.63 and a two-hundred day moving average price of $85.66.

AXIS Capital (NYSE:AXS) last posted 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%. Analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.86%. AXIS Capital’s dividend payout ratio is presently 14.25%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AXS. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets started coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. TD Cowen raised their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods raised their price objective on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and an average price target of $99.88.

AXIS Capital Company 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.