Independent Advisor Alliance Has $2.95 Million Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Independent Advisor Alliance boosted its holdings in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,298 shares of the insurance provider’s stock after buying an additional 749 shares during the quarter. Independent Advisor Alliance’s holdings in AXIS Capital were worth $2,951,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in AXIS Capital by 48.6% during the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after buying an additional 121,437 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at about $638,000. Verition Fund Management LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at about $453,000. Entropy Technologies LP acquired a new stake in shares of AXIS Capital in the third quarter valued at about $507,000. Finally, Jennison Associates LLC grew its position in shares of 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 during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the transaction, the director now owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

AXIS Capital Stock Up 0.6 %

Shares of AXS opened at $91.89 on Thursday. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital Holdings Limited has a 12 month low of $60.45 and a 12 month high of $98.11. The company has a 50-day moving average price of $90.94 and a two-hundred day moving average price of $86.25.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Equities analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is 14.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXS. 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, January 14th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. BMO Capital Markets assumed coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.88.

AXIS Capital Company 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.