Northeast Financial Consultants Inc Makes New Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Northeast Financial Consultants Inc bought a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,800 shares of the insurance provider’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. XTX Topco Ltd raised its holdings in shares of AXIS Capital by 35.7% during the third quarter. XTX Topco Ltd now owns 6,514 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 1,715 shares in the last quarter. Zacks Investment Management increased its position in AXIS Capital by 3.7% in the 3rd quarter. Zacks Investment Management now owns 18,317 shares of the insurance provider’s stock worth $1,458,000 after purchasing an additional 650 shares during the last quarter. Jane Street Group LLC raised its stake in shares of AXIS Capital by 21.3% during the 3rd quarter. Jane Street Group LLC now owns 52,156 shares of the insurance provider’s stock worth $4,152,000 after purchasing an additional 9,148 shares in the last quarter. Stansberry Asset Management LLC lifted its holdings in shares of AXIS Capital by 0.3% during the 3rd quarter. Stansberry Asset Management LLC now owns 275,817 shares of the insurance provider’s stock valued at $21,958,000 after buying an additional 896 shares during the last quarter. Finally, State Street Corp grew its stake in shares of AXIS Capital by 7.2% in the 3rd quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after buying an additional 112,536 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

AXIS Capital Stock Performance

NYSE:AXS opened at $92.83 on Friday. The firm has a market capitalization of $7.77 billion, a PE ratio of 12.88, a PEG ratio of 0.31 and a beta of 0.94. AXIS Capital Holdings Limited has a 1 year low of $53.49 and a 1 year high of $94.54. 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’s fifty day simple moving average is $84.28 and its 200 day simple moving average is $77.43.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same period last year, the business posted $2.34 earnings per share. On average, sell-side analysts anticipate that AXIS Capital Holdings Limited will post 10.83 EPS for the current year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, December 31st. AXIS Capital’s dividend payout ratio is currently 24.41%.

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.