True Wealth Design LLC Makes New $40,000 Investment in AXIS Capital Holdings Limited (NYSE:AXS)

True Wealth Design LLC acquired a new stake in AXIS Capital Holdings Limited (NYSE:AXS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 497 shares of the insurance provider’s stock, valued at approximately $40,000.

A number of other hedge funds have also modified their holdings of the business. Independent Advisor Alliance boosted its stake in AXIS Capital by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after purchasing an additional 125 shares during the period. Pathstone Holdings LLC boosted its stake in shares of AXIS Capital by 0.4% during the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after buying an additional 127 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc increased its position in AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 165 shares during the period. Finally, Gries Financial LLC raised its stake in AXIS Capital by 4.9% during the 2nd quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after acquiring an additional 166 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Stock Down 0.9 %

Shares of NYSE AXS opened at $93.04 on Monday. 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 firm has a 50-day moving average price of $82.84 and a 200 day moving average price of $76.69. AXIS Capital Holdings Limited has a 52 week low of $53.49 and a 52 week high of $94.39. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.31 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the company earned $2.34 EPS. Equities research analysts anticipate that AXIS Capital Holdings Limited will post 10.89 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 24.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group upped their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.14.

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.