AXIS Capital Holdings Limited (NYSE:AXS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,874 shares of the insurance provider’s stock after selling 149 shares during the period. Rhumbline Advisers’ holdings in AXIS Capital were worth $5,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXS. Norges Bank acquired a new stake in shares of AXIS Capital during the fourth quarter worth about $52,845,000. Janus Henderson Group PLC increased its position in shares of AXIS Capital by 30.7% during the first quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock worth $150,928,000 after purchasing an additional 545,546 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of AXIS Capital during the first quarter worth about $17,065,000. Scout Investments Inc. increased its position in AXIS Capital by 61.3% in the 1st quarter. Scout Investments Inc. now owns 550,215 shares of the insurance provider’s stock valued at $35,769,000 after acquiring an additional 209,181 shares during the period. Finally, Wasatch Advisors LP increased its position in AXIS Capital by 26.0% in the 4th quarter. Wasatch Advisors LP now owns 989,689 shares of the insurance provider’s stock valued at $54,799,000 after acquiring an additional 204,389 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analysts Set New Price Targets

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

AXIS Capital Stock Performance

NYSE AXS opened at $77.67 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $74.48 and its two-hundred day moving average is $69.38. AXIS Capital Holdings Limited has a 12-month low of $52.90 and a 12-month high of $80.50. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.25 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.41. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $2.23 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that AXIS Capital Holdings Limited will post 10.71 EPS for the current year.

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.