Trexquant Investment LP Buys 16,757 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

Trexquant Investment LP lifted its position in AXIS Capital Holdings Limited (NYSE:AXS) by 77.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,526 shares of the insurance provider’s stock after acquiring an additional 16,757 shares during the period. Trexquant Investment LP’s holdings in AXIS Capital were worth $3,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. raised its holdings in AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after purchasing an additional 121,437 shares during the period. HighTower Advisors LLC bought a new stake in shares of AXIS Capital in the 3rd quarter valued at $638,000. Verition Fund Management LLC acquired a new stake in AXIS Capital during the 3rd quarter worth $453,000. Geode Capital Management LLC lifted its holdings in AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after acquiring an additional 43,687 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in AXIS Capital in the fourth quarter valued at about $300,000. Institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

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

AXIS Capital Trading Down 8.4 %

Shares of AXIS Capital stock opened at $90.68 on Monday. The stock has a market cap of $7.33 billion, a P/E ratio of 7.34, a P/E/G ratio of 3.96 and a beta of 0.67. AXIS Capital Holdings Limited has a 12-month low of $60.45 and a 12-month high of $101.42. The business’s 50 day moving average is $93.96 and its 200-day moving average is $88.61. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is 14.25%.

Insiders Place Their Bets

In other news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the sale, the director now owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

AXIS Capital 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.