Engineers Gate Manager LP Sells 61,549 Shares of Axis Capital Holdings Limited $AXS

Engineers Gate Manager LP trimmed its stake in Axis Capital Holdings Limited (NYSE:AXS) by 59.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,213 shares of the insurance provider’s stock after selling 61,549 shares during the quarter. Engineers Gate Manager LP’s holdings in Axis Capital were worth $4,535,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AXS. Royal Bank of Canada increased its holdings in shares of Axis Capital by 12.4% during the 1st quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider’s stock worth $6,361,000 after acquiring an additional 7,023 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Axis Capital by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider’s stock valued at $20,605,000 after acquiring an additional 12,680 shares during the period. Jane Street Group LLC grew its stake in Axis Capital by 86.2% during the first quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider’s stock worth $4,739,000 after buying an additional 21,892 shares in the last quarter. Focus Partners Wealth grew its stake in Axis Capital by 42.1% during the first quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider’s stock worth $1,044,000 after buying an additional 3,085 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in Axis Capital by 33.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,924 shares of the insurance provider’s stock valued at $407,000 after buying an additional 987 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AXS shares. Weiss Ratings upgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, September 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Axis Capital in a report on Wednesday, July 29th. Atlantic Securities set a $122.00 price objective on Axis Capital in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price target on shares of Axis Capital from $131.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Finally, Mizuho lowered their price objective on shares of Axis Capital from $142.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Axis Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.23.

Axis Capital Trading Down 0.6%

Shares of AXS stock opened at $98.29 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 4.28 and a beta of 0.49. The company has a 50-day simple moving average of $105.51 and a two-hundred day simple moving average of $102.71. Axis Capital Holdings Limited has a 52-week low of $88.07 and a 52-week high of $119.99.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.41). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.29 EPS. Research analysts anticipate that Axis Capital Holdings Limited will post 12.39 EPS for the current fiscal year.

Axis Capital Company Profile

AXIS Capital Holdings Limited (NYSE: AXS) is a Bermuda-based specialty insurance and reinsurance company. Through its subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurance companies.

Its insurance operations offer products across property, casualty, professional liability, cyber, marine, aviation, accident and health, and other specialty lines. Its reinsurance business assumes risks from primary insurers through property, casualty and specialty reinsurance arrangements.

Founded in 2001, AXIS serves clients and distribution partners in major insurance markets across North America, Bermuda, Europe, Asia-Pacific and other international regions.