AXIS Capital Holdings Limited (NYSE:AXS) Holdings Cut by Bank of Nova Scotia

Bank of Nova Scotia decreased its stake in AXIS Capital Holdings Limited (NYSE:AXSGet Rating) by 7.6% in the second quarter, Holdings Channel reports. The institutional investor owned 12,315 shares of the insurance provider’s stock after selling 1,008 shares during the quarter. Bank of Nova Scotia’s holdings in AXIS Capital were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXS. Dimensional Fund Advisors LP lifted its position in AXIS Capital by 13.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,707 shares of the insurance provider’s stock worth $190,280,000 after buying an additional 381,511 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in AXIS Capital by 24.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,716,687 shares of the insurance provider’s stock worth $98,004,000 after buying an additional 336,679 shares in the last quarter. American Century Companies Inc. lifted its position in AXIS Capital by 12.9% in the 1st quarter. American Century Companies Inc. now owns 2,776,823 shares of the insurance provider’s stock worth $167,914,000 after buying an additional 317,806 shares in the last quarter. Vanguard Group Inc. lifted its position in AXIS Capital by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 7,948,453 shares of the insurance provider’s stock worth $480,644,000 after buying an additional 288,068 shares in the last quarter. Finally, Scout Investments Inc. lifted its position in AXIS Capital by 28.8% in the 2nd quarter. Scout Investments Inc. now owns 1,210,850 shares of the insurance provider’s stock worth $69,127,000 after buying an additional 270,445 shares in the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.

AXIS Capital Stock Performance

NYSE:AXS opened at $55.38 on Friday. AXIS Capital Holdings Limited has a 1 year low of $48.32 and a 1 year high of $61.39. The firm’s fifty day simple moving average is $52.35 and its 200 day simple moving average is $54.01. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $4.69 billion, a PE ratio of 13.57, a PEG ratio of 2.01 and a beta of 0.75.

AXIS Capital (NYSE:AXSGet Rating) last posted its earnings results on Thursday, October 27th. The insurance provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). AXIS Capital had a net margin of 7.47% and a return on equity of 12.52%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 5.5 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Monday, October 3rd were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 3.11%. AXIS Capital’s payout ratio is presently 42.16%.

Analyst Ratings Changes

Several brokerages have recently commented on AXS. TheStreet lowered shares of AXIS Capital from a “b” rating to a “c+” rating in a research note on Tuesday, July 26th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. Wells Fargo & Company increased their price target on shares of AXIS Capital from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Finally, Morgan Stanley dropped their price target on shares of AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Friday, August 19th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.67.

AXIS Capital Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding AXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AXIS Capital Holdings Limited (NYSE:AXSGet Rating).

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

Receive News & Ratings for AXIS Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXIS Capital and related companies with MarketBeat.com's FREE daily email newsletter.