VELA Investment Management LLC Sells 1,900 Shares of AXIS Capital Holdings Limited (NYSE:AXS)

VELA Investment Management LLC reduced its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 47,387 shares of the insurance provider’s stock after selling 1,900 shares during the period. AXIS Capital comprises 1.2% of VELA Investment Management LLC’s holdings, making the stock its 16th largest position. VELA Investment Management LLC’s holdings in AXIS Capital were worth $4,199,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC bought a new position in AXIS Capital in the third quarter worth about $40,000. Versant Capital Management Inc increased its stake in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of AXIS Capital by 28.5% during the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 185 shares in the last quarter. R Squared Ltd bought a new position in shares of AXIS Capital during the fourth quarter valued at approximately $82,000. Finally, Capital Performance Advisors LLP bought a new position in shares of AXIS Capital during the third quarter valued at approximately $99,000. 93.44% of the stock is owned by institutional investors.

AXIS Capital Trading Up 2.5 %

NYSE:AXS opened at $96.36 on Friday. The company’s 50 day moving average price is $90.06 and its 200-day moving average price is $84.95. AXIS Capital Holdings Limited has a 52 week low of $60.06 and a 52 week high of $96.80. 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 stock has a market cap of $8.06 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 3.96 and a beta of 0.95.

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, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXS has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. StockNews.com downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, AXIS Capital presently has a consensus rating of “Moderate Buy” and an average target price of $99.88.

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.