Wells Fargo & Company MN Grows Position in Axis Capital Holdings Limited (AXS)

Wells Fargo & Company MN increased its holdings in Axis Capital Holdings Limited (NYSE:AXS) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,922 shares of the insurance provider’s stock after purchasing an additional 5,941 shares during the quarter. Wells Fargo & Company MN owned 1.32% of Axis Capital worth $62,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXS. BlueMountain Capital Management LLC increased its position in shares of Axis Capital by 62.0% in the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock worth $165,000 after acquiring an additional 979 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Axis Capital in the second quarter worth approximately $203,000. The Manufacturers Life Insurance Company purchased a new position in shares of Axis Capital in the second quarter worth approximately $207,000. Toronto Dominion Bank increased its position in shares of Axis Capital by 237.6% in the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 2,514 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Axis Capital in the third quarter worth approximately $256,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

Axis Capital Holdings Limited (AXS) opened at $49.80 on Friday. Axis Capital Holdings Limited has a one year low of $49.80 and a one year high of $71.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.21.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($5.34) by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $972.10 million. Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. During the same quarter in the previous year, the company earned $1.78 earnings per share. equities research analysts expect that Axis Capital Holdings Limited will post -2.2 earnings per share for the current fiscal year.

In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total value of $392,325.00. Following the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at approximately $315,272.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.89% of the stock is owned by corporate insiders.

A number of research analysts recently commented on AXS shares. UBS lowered their price objective on shares of Axis Capital from $57.00 to $55.00 and set a “sell” rating on the stock in a research report on Monday, October 2nd. MKM Partners lowered their price objective on shares of Axis Capital from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Citigroup lowered their price objective on shares of Axis Capital from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley decreased their target price on shares of Axis Capital from $70.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Axis Capital currently has an average rating of “Hold” and an average target price of $61.45.

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Axis Capital Company Profile

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 (NYSE:AXS)

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