Clearbridge Investments LLC Lowers Stake in Axis Capital Holdings Limited (AXS)

Clearbridge Investments LLC decreased its stake in Axis Capital Holdings Limited (NYSE:AXS) by 14.0% during the first quarter, Holdings Channel reports. The fund owned 1,044,906 shares of the insurance provider’s stock after selling 170,660 shares during the period. Clearbridge Investments LLC’s holdings in Axis Capital Holdings Limited were worth $70,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AXS. Macquarie Group Ltd. increased its position in shares of Axis Capital Holdings Limited by 31.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,900 shares of the insurance provider’s stock valued at $189,000 after buying an additional 700 shares during the last quarter. Dai Ichi Life Insurance Company Ltd increased its position in shares of Axis Capital Holdings Limited by 12.6% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 75,562 shares of the insurance provider’s stock valued at $5,065,000 after buying an additional 8,459 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Axis Capital Holdings Limited by 24.0% in the first quarter. Great Lakes Advisors LLC now owns 10,565 shares of the insurance provider’s stock valued at $708,000 after buying an additional 2,042 shares during the last quarter. Boston Private Wealth LLC increased its position in shares of Axis Capital Holdings Limited by 7.3% in the first quarter. Boston Private Wealth LLC now owns 13,262 shares of the insurance provider’s stock valued at $889,000 after buying an additional 902 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Axis Capital Holdings Limited by 54.0% in the fourth quarter. Comerica Bank now owns 9,933 shares of the insurance provider’s stock valued at $649,000 after buying an additional 3,482 shares during the last quarter. 88.44% of the stock is owned by institutional investors and hedge funds.

Shares of Axis Capital Holdings Limited (AXS) traded up 1.16% during mid-day trading on Wednesday, hitting $64.56. The company’s stock had a trading volume of 79,021 shares. The stock has a 50-day moving average of $64.67 and a 200-day moving average of $66.00. Axis Capital Holdings Limited has a 12-month low of $51.33 and a 12-month high of $71.06. The company has a market cap of $5.46 billion, a PE ratio of 13.40 and a beta of 0.58.

Axis Capital Holdings Limited (NYSE:AXS) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.22. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.69 billion. Axis Capital Holdings Limited had a net margin of 11.74% and a return on equity of 7.86%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts forecast that Axis Capital Holdings Limited will post $3.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.52 annualized dividend and a yield of 2.37%. Axis Capital Holdings Limited’s payout ratio is currently 31.73%.

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Several research analysts have recently weighed in on AXS shares. Zacks Investment Research downgraded Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Deutsche Bank AG reissued a “hold” rating and issued a $64.00 price objective (down from $66.00) on shares of Axis Capital Holdings Limited in a research note on Wednesday, March 15th. ValuEngine raised Axis Capital Holdings Limited from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Citigroup Inc. increased their price objective on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a “sell” rating in a research note on Friday, April 7th. Finally, BidaskClub downgraded Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a research note on Saturday. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.25.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

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Institutional Ownership by Quarter for Axis Capital Holdings Limited (NYSE:AXS)

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