Madison Asset Management LLC Has $3.65 Million Stock Position in Axis Capital Holdings Limited $AXS

Madison Asset Management LLC reduced its stake in shares of Axis Capital Holdings Limited (NYSE:AXS) by 16.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 36,019 shares of the insurance provider’s stock after selling 6,862 shares during the period. Madison Asset Management LLC’s holdings in Axis Capital were worth $3,653,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Axis Capital by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 4,592,270 shares of the insurance provider’s stock valued at $491,786,000 after buying an additional 1,083,579 shares during the period. Norges Bank acquired a new stake in shares of Axis Capital during the fourth quarter worth $103,001,000. Freestone Grove Partners LP bought a new stake in Axis Capital in the 3rd quarter valued at $56,705,000. Arrowstreet Capital Limited Partnership lifted its position in Axis Capital by 147.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 745,591 shares of the insurance provider’s stock valued at $79,845,000 after acquiring an additional 443,761 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Axis Capital by 374.7% in the 3rd quarter. Millennium Management LLC now owns 553,565 shares of the insurance provider’s stock valued at $53,032,000 after acquiring an additional 436,944 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Axis Capital Stock Down 0.5%

NYSE:AXS opened at $114.48 on Wednesday. Axis Capital Holdings Limited has a twelve month low of $88.07 and a twelve month high of $116.63. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 3.36 and a beta of 0.49. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $104.17 and its two-hundred day moving average price is $102.73.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.33 by $0.09. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.17 EPS. Equities research analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is 13.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AXS shares. Mizuho upped their target price on shares of Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Atlantic Securities set a $122.00 price target on Axis Capital in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price target on Axis Capital from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Wells Fargo & Company upped their price objective on Axis Capital from $119.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings upgraded Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.45.

Insider Buying and Selling at Axis Capital

In other news, Director Henry B. Smith sold 2,542 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the sale, the director directly owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

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.