Several other equities research analysts have also commented on AXS. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $67.00 to $70.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of AXIS Capital from $56.00 to $59.00 and gave the company an underweight rating in a research report on Friday, February 2nd. Finally, UBS Group increased their target price on shares of AXIS Capital from $77.00 to $80.00 and gave the company a buy rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $66.00.
AXIS Capital Price Performance
AXIS Capital Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Friday, December 29th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.91%. AXIS Capital’s payout ratio is currently 43.78%.
Insider Buying and Selling
In related news, Director Stanley A. Galanski purchased 7,000 shares of AXIS Capital stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $58.45 per share, with a total value of $409,150.00. Following the purchase, the director now directly owns 9,763 shares of the company’s stock, valued at approximately $570,647.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On AXIS Capital
Several large investors have recently made changes to their positions in AXS. Bank of Nova Scotia lifted its position in AXIS Capital by 188.7% in the fourth quarter. Bank of Nova Scotia now owns 23,248 shares of the insurance provider’s stock valued at $1,287,000 after buying an additional 15,195 shares during the last quarter. TFO Wealth Partners LLC increased its stake in AXIS Capital by 61,675.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock valued at $137,000 after purchasing an additional 2,467 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in AXIS Capital by 4.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 35,569 shares of the insurance provider’s stock valued at $1,969,000 after purchasing an additional 1,431 shares during the last quarter. Allianz Asset Management GmbH increased its stake in AXIS Capital by 23.7% in the fourth quarter. Allianz Asset Management GmbH now owns 159,379 shares of the insurance provider’s stock valued at $8,825,000 after purchasing an additional 30,555 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in AXIS Capital by 59.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,045 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 391 shares during the last quarter. 89.61% of the stock is currently owned by institutional investors and hedge funds.
About AXIS Capital
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.
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