Pitcairn Co. Has $617,000 Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Pitcairn Co. lowered its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 10.6% during the third quarter, HoldingsChannel reports. The firm owned 7,752 shares of the insurance provider’s stock after selling 916 shares during the period. Pitcairn Co.’s holdings in AXIS Capital were worth $617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pathstone Holdings LLC boosted its holdings in shares of AXIS Capital by 0.4% in the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after buying an additional 127 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc raised its stake in AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Gries Financial LLC lifted its holdings in shares of AXIS Capital by 4.9% in the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 166 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of AXIS Capital by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock worth $368,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Wall Street Analyst Weigh In

AXS has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America increased their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company boosted their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.86.

AXIS Capital Stock Up 2.8 %

AXIS Capital stock opened at $91.23 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 1-year low of $53.49 and a 1-year high of $91.43. The firm’s fifty day simple moving average is $81.47 and its 200-day simple moving average is $75.91. The company has a market capitalization of $7.63 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.30 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.16. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same period last year, the company earned $2.34 earnings per share. Sell-side analysts forecast that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.93%. AXIS Capital’s payout ratio is currently 24.41%.

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.