Point72 Hong Kong Ltd Boosts Position in Axis Capital Holdings Limited (NYSE:AXS)
Point72 Hong Kong Ltd grew its holdings in shares of Axis Capital Holdings Limited (NYSE:AXS) by 167.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,036 shares of the insurance provider’s stock after buying an additional 3,153 shares during the period. Point72 Hong Kong Ltd’s holdings in Axis Capital were worth $299,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC increased its stake in shares of Axis Capital by 760.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 31,923 shares of the insurance provider’s stock valued at $1,898,000 after buying an additional 28,214 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Axis Capital during the fourth quarter valued at approximately $476,000. Samlyn Capital LLC grew its stake in Axis Capital by 49.3% in the fourth quarter. Samlyn Capital LLC now owns 1,454,039 shares of the insurance provider’s stock worth $86,428,000 after purchasing an additional 480,240 shares during the period. UBS Asset Management Americas Inc. grew its stake in Axis Capital by 2.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 141,415 shares of the insurance provider’s stock worth $8,406,000 after purchasing an additional 3,402 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Axis Capital by 1.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 378,593 shares of the insurance provider’s stock worth $22,504,000 after purchasing an additional 6,169 shares during the period. 91.01% of the stock is currently owned by hedge funds and other institutional investors.
AXS has been the topic of several recent research reports. Zacks Investment Research raised Axis Capital from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, February 3rd. Wells Fargo & Co cut Axis Capital from an “equal weight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a research note on Monday, January 6th. Finally, UBS Group upped their price target on Axis Capital from $69.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $68.50.
Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Axis Capital had a return on equity of 5.39% and a net margin of 6.25%. The firm had revenue of $786.15 million for the quarter, compared to analysts’ expectations of $741.78 million. During the same period in the prior year, the firm posted ($1.61) earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts predict that Axis Capital Holdings Limited will post 5.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.41 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.36%. Axis Capital’s dividend payout ratio is currently 65.08%.
In other Axis Capital news, Director Michael A. Butt purchased 5,760 shares of the stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $43.49 per share, with a total value of $250,502.40. Following the completion of the acquisition, the director now directly owns 986,922 shares in the company, valued at approximately $42,921,237.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Albert Benchimol purchased 2,704 shares of the stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $37.50 per share, for a total transaction of $101,400.00. Following the completion of the acquisition, the chief executive officer now owns 551,009 shares of the company’s stock, valued at $20,662,837.50. The disclosure for this purchase can be found here. Over the last three months, insiders bought 10,464 shares of company stock worth $435,902. Insiders own 2.00% of the company’s stock.
About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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