Connable Office Inc. Purchases New Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Connable Office Inc. purchased a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,474 shares of the insurance provider’s stock, valued at approximately $219,000.

Several other institutional investors also recently added to or reduced their stakes in AXS. True Wealth Design LLC bought a new position in AXIS Capital during the third quarter worth about $40,000. Versant Capital Management Inc boosted its position in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the period. Venturi Wealth Management LLC boosted its position in AXIS Capital by 28.5% during the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 185 shares during the period. R Squared Ltd bought a new position in AXIS Capital during the fourth quarter worth about $82,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of AXIS Capital in the third quarter worth about $99,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 0.6 %

Shares of AXIS Capital stock opened at $96.89 on Friday. 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 52-week low of $60.06 and a 52-week high of $97.33. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 3.96 and a beta of 0.95. The company’s 50 day moving average price is $90.38 and its 200-day moving average price is $85.19.

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

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating in a report on Monday, February 24th. BMO Capital Markets initiated 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 on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and six have issued 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 $99.88.

Insider Activity at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares in the company, valued at $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently 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.