Charles Schwab Investment Management Inc. Sells 73,736 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Charles Schwab Investment Management Inc. decreased its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 853,562 shares of the insurance provider’s stock after selling 73,736 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.02% of AXIS Capital worth $67,952,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in AXIS Capital by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock worth $287,909,000 after purchasing an additional 152,914 shares during the period. AQR Capital Management LLC lifted its stake in shares of AXIS Capital by 9.0% during 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 buying an additional 213,559 shares in the last quarter. Jennison Associates LLC boosted its holdings in AXIS Capital by 24.4% in the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after buying an additional 318,784 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in AXIS Capital by 12.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after buying an additional 157,110 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in 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 valued at $111,015,000 after acquiring an additional 33,241 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Up 3.2 %

Shares of NYSE AXS opened at $93.85 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $82.22 and a 200-day moving average of $76.32. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.31 and a beta of 0.90. AXIS Capital Holdings Limited has a 12 month low of $53.49 and a 12 month high of $94.24.

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

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is currently 24.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group raised their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price target on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Bank of America raised their price objective 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. Finally, Jefferies Financial Group upped their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.14.

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.