Verition Fund Management LLC Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Verition Fund Management LLC bought a new position in shares of AXIS Capital Holdings Limited (NYSE:AXSGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,775 shares of the insurance provider’s stock, valued at approximately $2,405,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in AXIS Capital by 7.3% during the first quarter. Swiss National Bank now owns 180,400 shares of the insurance provider’s stock worth $10,909,000 after buying an additional 12,300 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in AXIS Capital by 108.3% during the fourth quarter. Allianz Asset Management GmbH now owns 198,411 shares of the insurance provider’s stock worth $10,807,000 after buying an additional 103,167 shares during the last quarter. People s United Financial Inc. bought a new position in AXIS Capital during the first quarter worth about $296,000. Teacher Retirement System of Texas boosted its holdings in AXIS Capital by 20.7% during the fourth quarter. Teacher Retirement System of Texas now owns 14,767 shares of the insurance provider’s stock worth $804,000 after buying an additional 2,536 shares during the last quarter. Finally, First Hawaiian Bank boosted its holdings in AXIS Capital by 7.0% during the first quarter. First Hawaiian Bank now owns 21,481 shares of the insurance provider’s stock worth $1,299,000 after buying an additional 1,407 shares during the last quarter. Institutional investors own 91.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TheStreet cut AXIS Capital from a “b” rating to a “c+” rating in a report on Tuesday, July 26th. Jefferies Financial Group cut their price objective on AXIS Capital from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Morgan Stanley cut their price objective on AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Finally, StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Sunday, August 14th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and a consensus target price of $61.33.

AXIS Capital Stock Down 0.9 %

Shares of AXIS Capital stock opened at $53.50 on Friday. The business’s 50 day simple moving average is $53.04 and its 200 day simple moving average is $55.31. AXIS Capital Holdings Limited has a 52-week low of $44.49 and a 52-week high of $61.39. The firm has a market cap of $4.53 billion, a PE ratio of 11.05, a P/E/G ratio of 1.69 and a beta of 0.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.57 and a current ratio of 0.57.

AXIS Capital (NYSE:AXSGet Rating) last announced its earnings results on Tuesday, July 26th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.21. AXIS Capital had a return on equity of 11.81% and a net margin of 8.55%. During the same period last year, the firm posted $2.00 EPS. On average, analysts predict that AXIS Capital Holdings Limited will post 6.4 earnings per share for the current fiscal year.

About AXIS Capital

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AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.

Further Reading

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Institutional Ownership by Quarter for AXIS Capital (NYSE:AXS)

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