2,539 Shares in AXIS Capital Holdings Limited (NYSE:AXS) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC purchased a new stake in AXIS Capital Holdings Limited (NYSE:AXS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,539 shares of the insurance provider’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in shares of AXIS Capital by 9.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after acquiring an additional 213,559 shares in the last quarter. State Street Corp boosted its position in AXIS Capital by 7.2% during the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after purchasing an additional 112,536 shares during the last quarter. Jennison Associates LLC grew its stake in AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after purchasing an additional 318,784 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of AXIS Capital by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock worth $100,144,000 after purchasing an additional 157,110 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of AXIS Capital by 2.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,394,491 shares of the insurance provider’s stock worth $111,015,000 after purchasing an additional 33,241 shares in the last quarter. 93.44% of the stock is owned by institutional investors.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $89.96 on Friday. The firm has a market cap of $7.52 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.28 and a beta of 0.95. The business’s 50 day moving average is $89.18 and its 200-day moving average is $80.98. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 1-year low of $53.97 and a 1-year high of $94.89.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business earned $2.34 EPS. Equities research analysts predict that AXIS Capital Holdings Limited will post 10.88 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.96%. AXIS Capital’s payout ratio is presently 24.41%.

Wall Street Analysts Forecast Growth

AXS has been the subject of several analyst reports. Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $108.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group raised their price objective on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, AXIS Capital has a consensus rating of “Moderate Buy” and an average price target of $99.25.

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.