Insider Selling: AXIS Capital Holdings Limited (NYSE:AXS) Director Sells $199,999,922.00 in Stock

AXIS Capital Holdings Limited (NYSE:AXS) Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

AXIS Capital Price Performance

Shares of AXS opened at $92.68 on Thursday. AXIS Capital Holdings Limited has a 52 week low of $57.95 and a 52 week high of $94.89. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 3.87 and a beta of 0.95. The stock has a 50 day moving average of $90.03 and a 200-day moving average of $82.95.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping 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%. As a group, analysts forecast that AXIS Capital Holdings Limited will post 11.36 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a yield of 1.90%. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Hedge Funds Weigh In On AXIS Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of AXS. True Wealth Design LLC acquired a new position in AXIS Capital during the 3rd quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. raised 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 valued at $43,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc boosted its position in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares during the period. Venturi Wealth Management LLC lifted its holdings in AXIS Capital by 28.5% in the fourth quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 185 shares during the period. Finally, R Squared Ltd acquired a new position in AXIS Capital during the 4th quarter valued at about $82,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXS shares. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday. Bank of America upped their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. Jefferies Financial Group increased their price target on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.88.

About AXIS Capital

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.