Daiwa Securities Group Inc. Acquires 6,000 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Daiwa Securities Group Inc. raised its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 600.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the insurance provider’s stock after buying an additional 6,000 shares during the period. Daiwa Securities Group Inc.’s holdings in AXIS Capital were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in shares of AXIS Capital in the 4th quarter valued at approximately $1,785,000. Norges Bank acquired a new stake in shares of AXIS Capital in the fourth quarter worth $52,845,000. Foundry Partners LLC bought a new stake in shares of AXIS Capital during the 4th quarter worth $3,503,000. Meritage Portfolio Management grew its stake in AXIS Capital by 1,132.7% in the 4th quarter. Meritage Portfolio Management now owns 95,474 shares of the insurance provider’s stock valued at $5,286,000 after buying an additional 87,729 shares during the last quarter. Finally, ING Groep NV acquired a new position in AXIS Capital in the 4th quarter valued at $1,168,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Trading Up 0.3 %

Shares of AXS stock opened at $70.36 on Friday. The company has a market capitalization of $5.96 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.25 and a beta of 0.90. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38. AXIS Capital Holdings Limited has a 12-month low of $52.02 and a 12-month high of $74.05. The firm has a 50-day moving average price of $70.64 and a 200 day moving average price of $63.93.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that AXIS Capital Holdings Limited will post 10.11 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, June 28th. AXIS Capital’s dividend payout ratio is 26.91%.

Insider Buying and Selling at AXIS Capital

In other news, Director Michael Millegan bought 1,400 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $644,553.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AXIS Capital news, Director Michael Millegan bought 1,400 shares of AXIS Capital stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $71.49 per share, with a total value of $100,086.00. Following the purchase, the director now owns 9,016 shares of the company’s stock, valued at $644,553.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stanley A. Galanski purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $71.43 per share, with a total value of $142,860.00. Following the completion of the purchase, the director now owns 11,763 shares of the company’s stock, valued at $840,231.09. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,425 shares of company stock worth $444,351. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AXS. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company increased their target price on AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Bank of America raised their target price on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a report on Thursday. UBS Group raised their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $86.00 price objective on shares of AXIS Capital in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, AXIS Capital presently has an average rating of “Hold” and an average target price of $71.83.

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.