Intech Investment Management LLC Increases Stake in AXIS Capital Holdings Limited

Intech Investment Management LLC has notably expanded its investment in AXIS Capital Holdings Limited (NYSE:AXS) by a remarkable 170.4% during the fourth quarter, according to the latest filing with the Securities & Exchange Commission. After acquiring an additional 5,020 shares during the quarter, the fund now holds 7,966 shares of the insurance provider's stock. This investment is currently valued at approximately $706,000 based on the most recent SEC data.

Several other institutional investors have also adjusted their positions in AXIS Capital. For instance, Cozad Asset Management Inc. initiated a new investment in the fourth quarter, valued at $623,000. Meanwhile, Counterpoint Mutual Funds LLC bought a new stake in AXIS Capital worth about $1,086,000. Signaturefd LLC raised its investment in AXIS Capital by 9.0%, bringing its total share count to 3,269, valued at $290,000 after adding 269 shares. Corient Private Wealth LLC significantly increased its holdings by 53.7%, now owning 49,974 shares worth $4,429,000 after acquiring 17,460 additional shares. Royce & Associates LP also increased its stake by 6.0%, now holding 388,237 shares valued at $34,406,000 following the purchase of an extra 22,044 shares. In total, institutional investors and hedge funds now own approximately 93.44% of AXIS Capital's stock.

AXIS Capital Stock Performance

As of Monday, shares of AXIS Capital (NYSE:AXS) opened at $95.00. The company's 50-day moving average price stands at $91.93, while the 200-day moving average price is $87.12. AXIS Capital has a market capitalization of $7.67 billion. Its financial metrics include a debt-to-equity ratio of 0.27, a current ratio of 0.60, and a quick ratio of 0.60. Over the past year, AXIS Capital's stock has experienced a low of $60.45 and a high of $98.11.

AXIS Capital's most recent quarterly earnings report was released on January 29th. The company reported earnings per share (EPS) of $2.97, exceeding analysts' expectations of $2.68 by $0.29. The company's return on equity was 18.89%, and the net margin was 18.16%. Analysts project that AXIS Capital Holdings Limited will deliver an EPS of 11.19 for the current fiscal year.

AXIS Capital Dividend Announcement

Recently, AXIS Capital announced a quarterly dividend set to be paid on April 17th. Shareholders on record as of March 31st will receive a dividend of $0.44. This amounts to an annualized dividend of $1.76, reflecting a dividend yield of 1.85%. The ex-dividend date also falls on March 31st. Currently, AXIS Capital's dividend payout ratio (DPR) stands at 14.25%.

Analyst Upgrades and Downgrades

Recent reports from various research analysts have focused on AXIS Capital stocks. For example, Keefe, Bruyette & Woods raised their target price for AXIS Capital from $115.00 to $118.00 and assigned an "outperform" rating on March 13th. JMP Securities reaffirmed a "market perform" rating on February 3rd. Conversely, Wells Fargo & Company reduced their target price from $89.00 to $85.00 and issued an "equal weight" rating on January 14th. StockNews.com upgraded AXIS Capital from a "hold" to a "buy" rating on March 4th. TD Cowen also increased their target price from $118.00 to $127.00, recommending the stock as a "buy" on November 27th. Overall, three analysts have designated a hold rating, while seven have suggested a buy rating, resulting in an average rating of "Moderate Buy" with a consensus target price of $100.25.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock on March 5th. This transaction occurred at an average price of $93.50, totaling nearly $200 million. Following this sale, the director retains ownership of approximately 2,404,133 shares valued at about $224.8 million, marking a decrease of 47.08% in his holdings. This sale has been properly disclosed in the relevant SEC filing, where further details can be accessed. Insiders collectively own about 0.50% of the company's stock.

AXIS Capital Company Profile

AXIS Capital Holdings Limited operates through its subsidiaries, providing a range of specialty insurance and reinsurance products across Bermuda, the United States, and other countries. The company operates in two main segments: Insurance and Reinsurance. The Insurance segment offers various professional insurance products including coverage for directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, and medical malpractice, as well as property insurance for commercial buildings and other related sectors.

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