CIBC Private Wealth Group LLC Sells 534 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

CIBC Private Wealth Group LLC lowered its position in shares of AXIS Capital Holdings Limited (NYSE:AXS) by 24.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,615 shares of the insurance provider’s stock after selling 534 shares during the period. CIBC Private Wealth Group LLC’s holdings in AXIS Capital were worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of AXIS Capital by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after purchasing an additional 170 shares during the last quarter. Captrust Financial Advisors grew its holdings in AXIS Capital by 64.5% during the 3rd quarter. Captrust Financial Advisors now owns 6,930 shares of the insurance provider’s stock worth $552,000 after acquiring an additional 2,718 shares during the last quarter. Verition Fund Management LLC acquired a new position in AXIS Capital in the 3rd quarter valued at approximately $453,000. HighTower Advisors LLC bought a new position in shares of AXIS Capital during the third quarter valued at $638,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of AXIS Capital by 97.4% during the third quarter. Quantinno Capital Management LP now owns 25,031 shares of the insurance provider’s stock worth $1,993,000 after purchasing an additional 12,350 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AXS. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.50.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

AXIS Capital Stock Down 3.8 %

AXIS Capital stock opened at $87.32 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $7.05 billion, a PE ratio of 7.07, a PEG ratio of 3.96 and a beta of 0.67. The firm’s fifty day moving average is $93.89 and its 200 day moving average is $88.67. AXIS Capital Holdings Limited has a 12-month low of $60.45 and a 12-month high of $101.42.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (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%. As a group, sell-side analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 2.02%. AXIS Capital’s dividend payout ratio is 14.25%.

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.