Elevate Capital Advisors LLC Makes New $1.84 Million Investment in AXIS Capital Holdings Limited (NYSE:AXS)

Elevate Capital Advisors LLC purchased a new stake in shares of AXIS Capital Holdings Limited (NYSE:AXS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 20,765 shares of the insurance provider’s stock, valued at approximately $1,840,000. AXIS Capital comprises about 1.6% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 21st largest holding.

Several other large investors have also recently modified their holdings of the business. True Wealth Design LLC bought a new position in AXIS Capital during the 3rd quarter worth $40,000. Versant Capital Management Inc raised its position 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 worth $59,000 after acquiring an additional 130 shares during the last quarter. R Squared Ltd acquired a new position in shares of AXIS Capital in the fourth quarter worth approximately $82,000. Blue Trust Inc. boosted its holdings in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in AXIS Capital during the 3rd quarter worth approximately $99,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXIS Capital stock opened at $93.43 on Monday. The business has a 50-day simple moving average of $90.05 and a 200 day simple moving average of $83.34. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 4.01 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital Holdings Limited has a one year low of $57.99 and a one year high of $94.89.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, research analysts anticipate that AXIS Capital Holdings Limited will post 11.36 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s payout ratio is presently 14.25%.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. UBS Group upped their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. TD Cowen upped their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, StockNews.com cut AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.