Renaissance Group LLC Reduces Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Renaissance Group LLC reduced its position in AXIS Capital Holdings Limited (NYSE:AXS) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,942 shares of the insurance provider’s stock after selling 2,430 shares during the period. Renaissance Group LLC owned approximately 0.13% of AXIS Capital worth $6,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Steph & Co. boosted its stake in shares of AXIS Capital by 2.0% in the 1st quarter. Steph & Co. now owns 10,633 shares of the insurance provider’s stock worth $580,000 after buying an additional 209 shares during the last quarter. SG Americas Securities LLC lifted its position in AXIS Capital by 5.7% during the fourth quarter. SG Americas Securities LLC now owns 4,255 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 231 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in AXIS Capital by 0.7% during the first quarter. Treasurer of the State of North Carolina now owns 34,018 shares of the insurance provider’s stock valued at $1,855,000 after purchasing an additional 250 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in AXIS Capital by 0.9% during the first quarter. Assenagon Asset Management S.A. now owns 29,195 shares of the insurance provider’s stock valued at $1,592,000 after purchasing an additional 262 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its position in AXIS Capital by 0.8% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 36,748 shares of the insurance provider’s stock valued at $2,004,000 after purchasing an additional 280 shares in the last quarter. 89.61% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Trading Down 1.2 %

Shares of NYSE AXS traded down $0.67 during trading hours on Friday, reaching $54.49. The stock had a trading volume of 108,896 shares, compared to its average volume of 504,432. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.31 and a beta of 0.84. The business’s fifty day moving average price is $54.63 and its two-hundred day moving average price is $55.08. AXIS Capital Holdings Limited has a 52-week low of $48.32 and a 52-week high of $63.99.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.46. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.39 billion. AXIS Capital had a return on equity of 14.09% and a net margin of 6.85%. AXIS Capital’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 earnings per share. Analysts expect that AXIS Capital Holdings Limited will post 8.41 EPS for the current fiscal year.

Insider Transactions at AXIS Capital

In related news, Director Henry B. Smith sold 6,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $55.50, for a total value of $333,000.00. Following the transaction, the director now directly owns 49,710 shares of the company’s stock, valued at approximately $2,758,905. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

AXS has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on AXIS Capital in a report on Friday. They set a “sell” rating and a $51.00 price target on the stock. StockNews.com initiated coverage on AXIS Capital in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price target on AXIS Capital from $59.00 to $61.00 and gave the company a “market perform” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.75.

AXIS Capital Profile

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 classes covering offshore energy, cargo, liability, kidnap and ransom, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.