Principal Financial Group Inc. Has $1.03 Million Stake in Axis Capital Holdings Limited (AXS)

Principal Financial Group Inc. decreased its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,944 shares of the insurance provider’s stock after selling 2,829 shares during the quarter. Principal Financial Group Inc.’s holdings in Axis Capital Holdings Limited were worth $1,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AXS. BlackRock Inc. increased its stake in shares of Axis Capital Holdings Limited by 3,740.9% during the 1st quarter. BlackRock Inc. now owns 6,741,122 shares of the insurance provider’s stock worth $451,855,000 after purchasing an additional 6,565,613 shares during the last quarter. Sei Investments Co. increased its stake in shares of Axis Capital Holdings Limited by 354.0% during the 2nd quarter. Sei Investments Co. now owns 364,831 shares of the insurance provider’s stock worth $23,590,000 after purchasing an additional 284,474 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Axis Capital Holdings Limited by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 8,151,654 shares of the insurance provider’s stock worth $546,405,000 after purchasing an additional 234,043 shares during the last quarter. KBC Group NV increased its stake in shares of Axis Capital Holdings Limited by 172.5% during the 2nd quarter. KBC Group NV now owns 182,741 shares of the insurance provider’s stock worth $11,816,000 after purchasing an additional 115,676 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Axis Capital Holdings Limited during the 2nd quarter worth $7,357,000. Institutional investors own 86.23% of the company’s stock.

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Several research analysts have recently commented on the stock. Citigroup Inc. dropped their price target on shares of Axis Capital Holdings Limited from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. UBS AG dropped their price target on shares of Axis Capital Holdings Limited from $57.00 to $55.00 and set a “sell” rating on the stock in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Axis Capital Holdings Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. ValuEngine lowered shares of Axis Capital Holdings Limited from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $67.00 price target on shares of Axis Capital Holdings Limited in a research note on Friday, August 18th. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Axis Capital Holdings Limited has an average rating of “Hold” and a consensus price target of $63.78.

Shares of Axis Capital Holdings Limited (NYSE AXS) opened at 55.99 on Wednesday. The company has a market capitalization of $4.66 billion, a P/E ratio of 12.35 and a beta of 0.59. Axis Capital Holdings Limited has a 12-month low of $52.15 and a 12-month high of $71.06. The company’s 50 day moving average is $58.09 and its 200 day moving average is $63.25.

Axis Capital Holdings Limited (NYSE:AXS) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.12. The business had revenue of $956.02 million for the quarter, compared to the consensus estimate of $989.95 million. Axis Capital Holdings Limited had a net margin of 10.81% and a return on equity of 9.17%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. Analysts expect that Axis Capital Holdings Limited will post $0.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 9th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.71%. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, October 5th. Axis Capital Holdings Limited’s payout ratio is presently 33.70%.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

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Institutional Ownership by Quarter for Axis Capital Holdings Limited (NYSE:AXS)

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