Barrow Hanley Mewhinney & Strauss LLC Raises Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Barrow Hanley Mewhinney & Strauss LLC grew its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 12.5% in the second quarter, Holdings Channel reports. The fund owned 1,417,464 shares of the insurance provider’s stock after purchasing an additional 157,110 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in AXIS Capital were worth $100,144,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AXS. Ensign Peak Advisors Inc increased its position in AXIS Capital by 84.4% during the second quarter. Ensign Peak Advisors Inc now owns 40,404 shares of the insurance provider’s stock worth $2,855,000 after purchasing an additional 18,490 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of AXIS Capital by 146.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 205,999 shares of the insurance provider’s stock valued at $14,554,000 after buying an additional 122,303 shares during the period. Seven Eight Capital LP acquired a new stake in shares of AXIS Capital during the 2nd quarter worth approximately $527,000. Hsbc Holdings PLC purchased a new stake in shares of AXIS Capital during the 2nd quarter valued at approximately $427,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in AXIS Capital by 21.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,854 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 1,203 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

AXS stock opened at $77.91 on Friday. The business’s fifty day moving average price is $75.36 and its 200 day moving average price is $70.04. AXIS Capital Holdings Limited has a 12-month low of $52.90 and a 12-month high of $80.50. The company has a market capitalization of $6.60 billion, a PE ratio of 11.91, a P/E/G ratio of 0.25 and a beta of 0.89. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 10.71 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be given a $0.44 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.26%. AXIS Capital’s dividend payout ratio is presently 26.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Roth Mkm raised their target price on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on AXIS Capital from $63.00 to $74.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

AXIS Capital 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.