Edgestream Partners L.P. Acquires New Position in AXIS Capital Holdings Limited (NYSE:AXS)

Edgestream Partners L.P. bought a new position in shares of AXIS Capital Holdings Limited (NYSE:AXS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,675 shares of the insurance provider’s stock, valued at approximately $2,044,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in AXIS Capital in the third quarter valued at $507,000. Jennison Associates LLC boosted its stake in shares of AXIS Capital by 24.4% in the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after buying an additional 318,784 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of AXIS Capital during the third quarter worth about $4,249,000. Wealth Enhancement Advisory Services LLC raised its holdings in AXIS Capital by 71.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,265 shares of the insurance provider’s stock valued at $1,374,000 after acquiring an additional 7,205 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in AXIS Capital by 8.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 300,726 shares of the insurance provider’s stock valued at $23,941,000 after acquiring an additional 23,377 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 1.0 %

AXIS Capital stock opened at $93.95 on Tuesday. The stock has a 50-day simple moving average of $83.15 and a 200-day simple moving average of $76.86. The company has a market capitalization of $7.86 billion, a P/E ratio of 13.03, a PEG ratio of 0.31 and a beta of 0.90. 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 fifty-two week low of $53.49 and a fifty-two week high of $94.42.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same period in the prior year, the company earned $2.34 earnings per share. Equities research analysts expect that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, September 30th. AXIS Capital’s payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

AXS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group raised their price target on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America upped their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their target price on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.14.

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.