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

Bank of Nova Scotia raised its position in shares of AXIS Capital Holdings Limited (NYSE:AXSFree Report) by 188.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,248 shares of the insurance provider’s stock after buying an additional 15,195 shares during the period. Bank of Nova Scotia’s holdings in AXIS Capital were worth $1,287,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in AXIS Capital during the fourth quarter worth approximately $1,785,000. Norges Bank acquired a new stake in shares of AXIS Capital during the fourth quarter worth $52,845,000. Foundry Partners LLC purchased a new stake in shares of AXIS Capital during the fourth quarter valued at $3,503,000. Meritage Portfolio Management boosted its position in shares of AXIS Capital by 1,132.7% in the 4th quarter. Meritage Portfolio Management now owns 95,474 shares of the insurance provider’s stock valued at $5,286,000 after purchasing an additional 87,729 shares during the period. Finally, ING Groep NV purchased a new position in AXIS Capital in the 4th quarter worth about $1,168,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

AXIS Capital Price Performance

AXIS Capital stock opened at $72.08 on Friday. AXIS Capital Holdings Limited has a twelve month low of $52.02 and a twelve month high of $74.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $6.10 billion, a PE ratio of 11.02, a P/E/G ratio of 0.26 and a beta of 0.89. The firm’s 50 day moving average price is $67.13 and its two-hundred day moving average price is $61.47.

AXIS Capital (NYSE:AXSGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. AXIS Capital’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts predict that AXIS Capital Holdings Limited will post 10.1 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.76 annualized dividend and a dividend yield of 2.44%. AXIS Capital’s payout ratio is 26.91%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their target price on shares of AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AXIS Capital presently has an average rating of “Hold” and a consensus target price of $68.33.

Get Our Latest Analysis on AXIS Capital

Insider Buying and Selling

In other AXIS Capital news, Director Michael Millegan bought 1,400 shares of AXIS Capital stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at $644,553.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Stanley A. Galanski acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $71.43 per share, with a total value of $142,860.00. Following the purchase, the director now owns 11,763 shares of the company’s stock, valued at $840,231.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Millegan bought 1,400 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $71.49 per share, with a total value of $100,086.00. Following the transaction, the director now directly owns 9,016 shares of the company’s stock, valued at $644,553.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,425 shares of company stock worth $444,351. Insiders own 0.50% of the company’s stock.

AXIS Capital Company Profile

(Free Report)

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.

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

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