Connor Clark & Lunn Investment Management Ltd. Cuts Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Connor Clark & Lunn Investment Management Ltd. cut its stake in AXIS Capital Holdings Limited (NYSE:AXSGet Rating) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,954 shares of the insurance provider’s stock after selling 7,527 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AXIS Capital were worth $1,577,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in AXIS Capital by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,765,196 shares of the insurance provider’s stock valued at $150,619,000 after purchasing an additional 38,390 shares during the period. VELA Investment Management LLC purchased a new stake in shares of AXIS Capital during the fourth quarter worth about $1,477,000. Baird Financial Group Inc. increased its position in shares of AXIS Capital by 6.7% during the fourth quarter. Baird Financial Group Inc. now owns 46,770 shares of the insurance provider’s stock worth $2,548,000 after acquiring an additional 2,956 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of AXIS Capital by 24.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,282 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of AXIS Capital by 21.4% during the fourth quarter. Jennison Associates LLC now owns 1,380,610 shares of the insurance provider’s stock worth $75,202,000 after acquiring an additional 243,693 shares during the last quarter. 93.67% of the stock is currently owned by institutional investors.

NYSE:AXS opened at $55.27 on Friday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. AXIS Capital Holdings Limited has a one year low of $44.49 and a one year high of $61.39. The stock has a 50-day simple moving average of $56.55 and a 200 day simple moving average of $54.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.59 and a current ratio of 0.59.

AXIS Capital (NYSE:AXSGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The insurance provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.92 billion. AXIS Capital had a return on equity of 11.84% and a net margin of 12.09%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 6.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.72 dividend on an annualized basis and a yield of 3.11%. AXIS Capital’s payout ratio is currently 23.92%.

A number of brokerages have recently issued reports on AXS. Morgan Stanley lifted their target price on AXIS Capital from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, January 14th. Zacks Investment Research raised AXIS Capital from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research report on Monday, January 17th. Finally, StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $62.00.

AXIS Capital Profile (Get Rating)

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, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.

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

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