State Board of Administration of Florida Retirement System Boosts Stock Holdings in Axis Capital Holdings Limited (NYSE:AXS)

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State Board of Administration of Florida Retirement System raised its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,880 shares of the insurance provider’s stock after buying an additional 1,211 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Axis Capital worth $7,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank increased its stake in shares of Axis Capital by 2.5% during the second quarter. Swiss National Bank now owns 156,100 shares of the insurance provider’s stock valued at $9,311,000 after purchasing an additional 3,800 shares in the last quarter. Comerica Bank increased its stake in shares of Axis Capital by 609.9% during the second quarter. Comerica Bank now owns 58,483 shares of the insurance provider’s stock valued at $3,502,000 after purchasing an additional 50,245 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Axis Capital during the second quarter valued at approximately $335,000. Benedict Financial Advisors Inc. increased its stake in shares of Axis Capital by 2.9% during the second quarter. Benedict Financial Advisors Inc. now owns 20,997 shares of the insurance provider’s stock valued at $1,252,000 after purchasing an additional 592 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Axis Capital during the second quarter valued at approximately $35,066,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

Shares of NYSE:AXS traded down $0.45 during trading on Wednesday, reaching $63.98. 104 shares of the stock traded hands, compared to its average volume of 489,331. The stock has a 50-day moving average of $62.59 and a two-hundred day moving average of $58.93. Axis Capital Holdings Limited has a 52-week low of $48.27 and a 52-week high of $65.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $5.40 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.34.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.34. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts expect that Axis Capital Holdings Limited will post 5.06 earnings per share for the current year.

A number of brokerages have weighed in on AXS. UBS Group raised shares of Axis Capital from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $67.00 in a research note on Thursday, May 23rd. ValuEngine raised shares of Axis Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, Buckingham Research upgraded shares of Axis Capital from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $70.00 in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.00.

Axis Capital Profile

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 insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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

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