Raymond James Trust N.A. Increases Position in AXIS Capital Holdings Limited (NYSE:AXS)

Raymond James Trust N.A. grew its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,259 shares of the insurance provider’s stock after purchasing an additional 291 shares during the period. Raymond James Trust N.A.’s holdings in AXIS Capital were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathstone Holdings LLC lifted its stake in shares of AXIS Capital by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock valued at $2,542,000 after acquiring an additional 127 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc lifted its position in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Gries Financial LLC boosted its stake in shares of AXIS Capital by 4.9% during the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 166 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of AXIS Capital by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock worth $368,000 after purchasing an additional 172 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXS. Bank of America increased their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. TD Cowen initiated coverage on AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 price target on the stock. Roth Mkm increased their price objective on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their target price on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.86.

AXIS Capital Stock Performance

Shares of AXS opened at $91.23 on Tuesday. The firm has a market capitalization of $7.63 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The company has a 50-day simple moving average of $81.47 and a two-hundred day simple moving average of $75.91. AXIS Capital Holdings Limited has a one year low of $53.49 and a one year high of $91.43.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. On average, analysts anticipate that AXIS Capital Holdings Limited will post 10.89 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

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.