BB&T Corp decreased its position in Axis Capital Holdings Ltd. (NYSE:AXS) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,409 shares of the company’s stock after selling 3,410 shares during the period. BB&T Corp’s holdings in Axis Capital Holdings were worth $1,163,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ifrah Financial Services Inc. raised its position in Axis Capital Holdings by 0.3% in the second quarter. Ifrah Financial Services Inc. now owns 4,874 shares of the company’s stock worth $268,000 after buying an additional 13 shares during the last quarter. Synovus Financial Corp raised its position in Axis Capital Holdings by 0.6% in the second quarter. Synovus Financial Corp now owns 4,314 shares of the company’s stock worth $241,000 after buying an additional 26 shares during the last quarter. World Asset Management Inc raised its position in Axis Capital Holdings by 1.3% in the second quarter. World Asset Management Inc now owns 5,676 shares of the company’s stock worth $312,000 after buying an additional 73 shares during the last quarter. Capstone Asset Management Co. raised its position in Axis Capital Holdings by 2.4% in the second quarter. Capstone Asset Management Co. now owns 4,608 shares of the company’s stock worth $253,000 after buying an additional 110 shares during the last quarter. Finally, Geneva Advisors LLC raised its position in Axis Capital Holdings by 1.1% in the second quarter. Geneva Advisors LLC now owns 10,724 shares of the company’s stock worth $590,000 after buying an additional 119 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors and hedge funds.
Axis Capital Holdings Ltd. (NYSE:AXS) traded up 0.15% during mid-day trading on Thursday, hitting $61.15. The stock had a trading volume of 351,534 shares. Axis Capital Holdings Ltd. has a 12 month low of $51.01 and a 12 month high of $62.71. The firm’s 50-day moving average is $57.96 and its 200 day moving average is $55.60. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 12.23 and a beta of 0.47.
Axis Capital Holdings (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.73. The business had revenue of $595.43 million for the quarter, compared to analyst estimates of $710.69 million. Axis Capital Holdings had a return on equity of 8.62% and a net margin of 12.81%. Axis Capital Holdings’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. Equities analysts anticipate that Axis Capital Holdings Ltd. will post $4.21 EPS for the current fiscal year.
A number of research analysts recently weighed in on the company. Citigroup Inc. began coverage on Axis Capital Holdings in a report on Tuesday. They set a “sell” rating and a $55.00 target price on the stock. Morgan Stanley upped their price objective on Axis Capital Holdings from $59.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Zacks Investment Research raised Axis Capital Holdings from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, November 8th. Finally, Goldman Sachs Group Inc. lowered Axis Capital Holdings from a “neutral” rating to a “sell” rating in a report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $59.50.
In related news, Director Michael A. Butt sold 40,673 shares of Axis Capital Holdings stock in a transaction on Friday, October 14th. The stock was sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the sale, the director now directly owns 1,161,675 shares in the company, valued at $66,227,091.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $56.15, for a total value of $583,960.00. Following the completion of the sale, the executive vice president now directly owns 15,958 shares of the company’s stock, valued at $896,041.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
About Axis Capital Holdings
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.