River Road Asset Management LLC Decreases Position in AXIS Capital Holdings Limited (NYSE:AXS)

River Road Asset Management LLC reduced its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,771,870 shares of the insurance provider’s stock after selling 54,125 shares during the quarter. AXIS Capital accounts for about 2.1% of River Road Asset Management LLC’s holdings, making the stock its 7th biggest holding. River Road Asset Management LLC owned approximately 2.12% of AXIS Capital worth $157,023,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC acquired a new position in AXIS Capital during the third quarter worth about $40,000. Steward Partners Investment Advisory LLC bought a new stake in shares of AXIS Capital during the 4th quarter valued at approximately $53,000. Versant Capital Management Inc increased its position in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in AXIS Capital in the 4th quarter valued at approximately $60,000. Finally, Assetmark Inc. acquired a new stake in AXIS Capital in the fourth quarter valued at approximately $70,000. 93.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. BMO Capital Markets initiated coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. TD Cowen upped 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, Wells Fargo & Company cut 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 report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.88.

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of the company’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 sale, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

AXIS Capital Price Performance

AXIS Capital stock opened at $91.69 on Tuesday. The stock’s 50 day moving average is $90.83 and its 200 day moving average is $86.04. AXIS Capital Holdings Limited has a one year low of $60.45 and a one year high of $98.11. The firm has a market cap of $7.41 billion, a P/E ratio of 7.42, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (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%. As a group, research analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.92%. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

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.