Axis Capital Holdings Limited $AXS Shares Bought by Causeway Capital Management LLC

Causeway Capital Management LLC raised its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 836,861 shares of the insurance provider’s stock after buying an additional 201,880 shares during the period. Axis Capital makes up approximately 1.1% of Causeway Capital Management LLC’s portfolio, making the stock its 17th largest position. Causeway Capital Management LLC owned 1.09% of Axis Capital worth $80,171,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AXS. Root Financial Partners LLC acquired a new position in Axis Capital during the 3rd quarter worth $29,000. Smithfield Trust Co increased its holdings in Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 142 shares during the period. AlphaCore Capital LLC acquired a new stake in Axis Capital in the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in Axis Capital in the 2nd quarter valued at about $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital in the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AXS. Keefe, Bruyette & Woods upped their target price on shares of Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $110.00 price objective on shares of Axis Capital in a research report on Wednesday, January 7th. Mizuho set a $141.00 price objective on shares of Axis Capital in a report on Monday, February 2nd. UBS Group reaffirmed a “buy” rating on shares of Axis Capital in a research report on Monday, February 2nd. Finally, Bank of America lowered their target price on shares of Axis Capital from $119.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Axis Capital Trading Down 1.6%

NYSE AXS opened at $101.38 on Tuesday. The firm’s fifty day moving average price is $103.47 and its 200 day moving average price is $100.30. Axis Capital Holdings Limited has a 12 month low of $84.81 and a 12 month high of $110.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.61.

Axis Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. Axis Capital’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.38 earnings per share. On average, sell-side analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital’s payout ratio is presently 14.21%.

Axis Capital Company Profile

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.