Susquehanna Portfolio Strategies LLC Lowers Stock Holdings in AXIS Capital Holdings Limited (NYSE:AXS)

Susquehanna Portfolio Strategies LLC decreased its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 60.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,472 shares of the insurance provider’s stock after selling 9,966 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in AXIS Capital were worth $421,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of AXIS Capital by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 8,707,110 shares of the insurance provider’s stock valued at $482,113,000 after purchasing an additional 75,085 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AXIS Capital by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,788,802 shares of the insurance provider’s stock worth $209,785,000 after acquiring an additional 27,750 shares during the period. Jennison Associates LLC increased its position in AXIS Capital by 1.7% during the first quarter. Jennison Associates LLC now owns 1,246,288 shares of the insurance provider’s stock valued at $81,034,000 after acquiring an additional 20,746 shares during the last quarter. Wasatch Advisors LP lifted its holdings in AXIS Capital by 6.5% in the first quarter. Wasatch Advisors LP now owns 1,054,329 shares of the insurance provider’s stock valued at $68,552,000 after acquiring an additional 64,640 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in AXIS Capital by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 973,886 shares of the insurance provider’s stock worth $53,924,000 after purchasing an additional 31,765 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

AXIS Capital Price Performance

Shares of AXS traded up $0.87 during midday trading on Monday, hitting $71.45. 48,608 shares of the company traded hands, compared to its average volume of 601,504. AXIS Capital Holdings Limited has a 52 week low of $52.07 and a 52 week high of $74.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a 50 day moving average of $70.74 and a 200-day moving average of $64.18. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.26 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.17. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 earnings per share. On average, analysts forecast that AXIS Capital Holdings Limited will post 10.04 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, June 28th. AXIS Capital’s payout ratio is 26.91%.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Michael Millegan bought 1,400 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $100,086.00. Following the transaction, the director now owns 9,016 shares of the company’s stock, valued at $644,553.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Michael Millegan bought 1,400 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average price of $71.49 per share, with a total value of $100,086.00. Following the transaction, the director now owns 9,016 shares in the company, valued at approximately $644,553.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director W Marston Becker purchased 3,025 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the acquisition, the director now directly owns 21,821 shares in the company, valued at approximately $1,452,842.18. The disclosure for this purchase can be found here. Insiders acquired 6,425 shares of company stock worth $444,351 over the last 90 days. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $86.00 target price on shares of AXIS Capital in a report on Monday, June 17th. UBS Group boosted their price target on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Finally, Bank of America raised their price target on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.83.

About AXIS Capital

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.