Pallas Capital Advisors LLC Has $909,000 Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Pallas Capital Advisors LLC grew its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 35.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,203 shares of the insurance provider’s stock after purchasing an additional 2,922 shares during the period. Pallas Capital Advisors LLC’s holdings in AXIS Capital were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in AXIS Capital by 8,717.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider’s stock valued at $96,172,000 after purchasing an additional 1,345,811 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of AXIS Capital by 30.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock valued at $150,928,000 after acquiring an additional 545,546 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of AXIS Capital in the 1st quarter valued at $17,065,000. Millennium Management LLC boosted its holdings in shares of AXIS Capital by 1,644.8% during the 2nd quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after acquiring an additional 226,956 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in AXIS Capital by 9.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock worth $182,538,000 after acquiring an additional 213,559 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXS. TD Cowen began coverage on AXIS Capital in a research report on Friday, October 4th. They issued a “buy” rating and a $118.00 target price for the company. Bank of America lifted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Roth Mkm lifted their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.86.

AXIS Capital Stock Down 0.7 %

Shares of NYSE AXS opened at $80.21 on Wednesday. AXIS Capital Holdings Limited has a 52-week low of $52.90 and a 52-week high of $83.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62. The company’s 50 day moving average price is $79.12 and its 200-day moving average price is $73.18. The company has a market capitalization of $6.79 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.27 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that AXIS Capital Holdings Limited will post 10.72 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.19%. AXIS Capital’s dividend payout ratio is currently 26.91%.

AXIS Capital Company Profile

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.