Wealth Enhancement Advisory Services LLC Increases Stake in AXIS Capital Holdings Limited

Wealth Enhancement Advisory Services LLC significantly increased its ownership in AXIS Capital Holdings Limited (NYSE:AXS) by 71.6% in the third quarter, according to its recent 13F filing with the Securities and Exchange Commission. As a result, the firm now holds 17,265 shares of the insurance company after adding 7,205 shares during the period. By the end of the latest reporting period, Wealth Enhancement Advisory Services LLC's investment in AXIS Capital was valued at approximately $1,374,000.

Other institutional investors have also adjusted their holdings in AXIS Capital. Notably, Victory Capital Management Inc. escalated its stake in AXIS Capital by an astonishing 8,717.0% during the second quarter, acquiring an additional 1,345,811 shares to reach a total of 1,361,250 shares worth $96,172,000. Similarly, Janus Henderson Group PLC increased its position in AXIS Capital by 30.7% in the first quarter, now owning 2,321,271 shares valued at $150,928,000 after adding 545,546 shares.

In addition, Levin Capital Strategies L.P. entered a new stake in AXIS Capital in the first quarter valued at approximately $17,065,000. Millennium Management LLC expanded its position by 1,644.8% during the second quarter, now owning 240,754 shares worth $17,009,000 after purchasing an extra 226,956 shares. Lastly, AQR Capital Management LLC raised its stake by 9.0% during the second quarter, bringing its total to 2,583,700 shares valued at $182,538,000 after additional purchases. Institutional and hedge fund investors collectively control approximately 93.44% of AXIS Capital's stock.

AXIS Capital Stock Performance

On Tuesday, AXIS Capital's stock opened at $79.38. The company exhibits a debt-to-equity ratio of 0.27, with a quick ratio of 0.62 and a current ratio of 0.60. Over the past year, AXIS Capital has seen a low of $53.14 and a high of $83.19. Presently, the stock has a 50-day simple moving average of $79.42 and a 200-day simple moving average of $73.69. The firm maintains a market capitalization of $6.64 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.26, and a beta of 0.90.

AXIS Capital last reported its earnings on October 30th, showing an earnings per share (EPS) of $2.71 for the quarter, surpassing the consensus estimate of $2.55 by $0.16. The company achieved a return on equity of 19.24% and a net margin of 10.82%. Revenue for the quarter reached $1.61 billion, exceeding expectations of $1.57 billion. Comparatively, the company reported an EPS of $2.34 for the same quarter in the previous year. Analysts project that AXIS Capital Holdings Limited will post an EPS of 10.73 for the current year.

AXIS Capital's Dividend Announcement

Recently, AXIS Capital announced a quarterly dividend of $0.44 per share, which was paid on October 18th. This dividend is significant for investors, with an annualized figure of $1.76 yielding 2.22%. The ex-dividend date was September 30th, and the company's current dividend payout ratio stands at 24.41%.

Analyst Ratings Overview

Several analysts have recently updated their ratings for AXIS Capital. For instance, TD Cowen initiated coverage on the company on October 4th with a "buy" rating and a price target of $118.00. On October 10th, Wells Fargo & Company increased their target on the stock from $74.00 to $78.00, rating it as "underweight." Roth Mkm raised its price target from $75.00 to $90.00 while giving the stock a "buy" rating on July 31st. Jefferies Financial Group also increased their price objective from $88.00 to $95.00 with a "buy" rating on October 9th. Moreover, Keefe, Bruyette & Woods lifted their target from $86.00 to $88.00, rating the stock as "outperform." Presently, one analyst rates the stock as a sell, while seven analysts view it as a buy, leading to an overall "Moderate Buy" rating with a consensus price target of $94.71.

About AXIS Capital Holdings Limited

AXIS Capital Holdings Limited is a prominent provider of specialty insurance and reinsurance products operating through its subsidiaries, both in Bermuda and internationally. The company is divided into two segments: Insurance and Reinsurance. The Insurance segment offers a variety of coverages including directors' and officers' liability, errors and omissions, employment practices, and property insurance for commercial and residential properties, along with other safety-related insurances.

AXS, investment, insurance