Allianz Asset Management GmbH Reduces Stake in Axis Capital Holdings Limited (AXS)

Allianz Asset Management GmbH reduced its position in Axis Capital Holdings Limited (NYSE:AXS) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,053 shares of the insurance provider’s stock after selling 21,613 shares during the period. Allianz Asset Management GmbH owned approximately 0.21% of Axis Capital worth $9,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in AXS. Aperio Group LLC boosted its stake in shares of Axis Capital by 8.2% in the 2nd quarter. Aperio Group LLC now owns 4,757 shares of the insurance provider’s stock worth $308,000 after buying an additional 361 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Axis Capital by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 310,951 shares of the insurance provider’s stock worth $20,107,000 after buying an additional 2,040 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Axis Capital by 24.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 73,879 shares of the insurance provider’s stock worth $4,777,000 after buying an additional 14,450 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Axis Capital by 90.3% in the 2nd quarter. SG Americas Securities LLC now owns 15,947 shares of the insurance provider’s stock worth $1,031,000 after buying an additional 7,565 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Axis Capital by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 539,927 shares of the insurance provider’s stock worth $34,917,000 after buying an additional 17,668 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Axis Capital Holdings Limited (AXS) opened at $50.58 on Friday. 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 Holdings Limited has a 52-week low of $49.61 and a 52-week high of $71.06.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share 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 analysts’ expectations 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 last year, the firm posted $1.78 earnings per share. analysts anticipate that Axis Capital Holdings Limited will post -2.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Axis Capital’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.08%. Axis Capital’s dividend payout ratio (DPR) is currently -49.67%.

A number of equities analysts have recently issued reports on the company. Buckingham Research began coverage on Axis Capital in a research note on Monday, September 11th. They issued a “neutral” rating and a $58.00 price target on the stock. ValuEngine downgraded Axis Capital from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Citigroup upgraded Axis Capital from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a research report on Monday, September 11th. UBS lowered their target price on Axis Capital from $57.00 to $55.00 and set a “sell” rating on the stock in a research report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.45.

In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the sale, the executive vice president now directly owns 6,027 shares of the company’s stock, valued at $315,272.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.89% of the stock is owned by company insiders.

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About Axis Capital

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.

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

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