Daiwa Securities Group Inc. Adds to AXIS Capital Holdings Limited Shares

Daiwa Securities Group Inc. has recently announced its purchase of a new stake in AXIS Capital Holdings Limited (NYSE:AXS – Free Report) during the fourth quarter. According to the firm's latest Form 13F filing with the Securities and Exchange Commission, Daiwa Securities acquired 5,100 shares of the insurance company, which is estimated to be worth around $452,000.

Additionally, several other large investors have also adjusted their positions in AXIS Capital. For instance, Versor Investments LP added a new stake during the third quarter valued at $247,000. Similarly, CIBC Asset Management Inc. bought a new position worth approximately $212,000 in the same period. Furthermore, Pathstone Holdings LLC increased its stake in AXIS Capital by 0.4%, owning now 31,785 shares worth $2,542,000 after acquiring an additional 127 shares. Other notable investors include Meeder Asset Management Inc., which purchased a position valued at about $190,000, and Jennison Associates LLC, which expanded its holdings by 24.4%, now owning 1,625,057 shares valued at around $129,371,000. It's worth mentioning that institutional investors and hedge funds collectively hold 93.44% of the company's stock.

Recent Insider Activity

In recent AXIS Capital news, Director Charles A. Davis executed a significant transaction by selling 2,139,037 shares on March 5th. The shares were sold for an average price of $93.50, amounting to nearly $200 million. Post-transaction, Davis retained ownership of 2,404,133 shares in the company, which are valued at about $224.8 million. This sale marked a 47.08% decrease in his ownership of AXIS stock. The details of this transaction are available in a legal filing with the SEC.

AXIS Capital Stock Overview

The stock of AXIS Capital (NYSE:AXS) opened at $93.66 on Monday. The firm has experienced a 52-week trading range with a low of $60.45 and a high of $98.11. Financial metrics indicate a debt-to-equity ratio of 0.27, with both a quick ratio and a current ratio of 0.60. The company's market capitalization stands at $7.57 billion, with a price-to-earnings (P/E) ratio of 7.58 and a P/E to growth (P/E/G) ratio of 3.96. The stock's fifty-day moving average is $91.16 while the two-hundred day moving average is $86.57.

AXIS Capital recently reported its quarterly earnings on January 29th, revealing earnings per share (EPS) of $2.97, surpassing the consensus estimate of $2.68 by $0.29. AXIS's net margin was reported at 18.16%, with a return on equity of 18.89%. Analysts anticipate that AXIS Capital Holdings Limited will post an EPS of 11.19 for the current fiscal year.

Dividend Announcement

The company has declared a dividend that will be paid on April 17th, with a record date of March 31st. Shareholders will receive a dividend of $0.44, which translates to an annualized amount of $1.76 and a dividend yield of 1.88%. The ex-dividend date for this distribution is also March 31st, and AXIS Capital's payout ratio is 14.25%.

Analyst Ratings and Outlook

Recent reports from equity research analysts indicate a mixture of upgrades and coverage on AXIS Capital shares. Keefe, Bruyette & Woods increased their price target from $115.00 to $118.00, rating the stock as an “outperform.” BMO Capital Markets initiated coverage with a “market perform” rating and set a price target of $93.00. TD Cowen raised their target price from $118.00 to $127.00, maintaining a “buy” rating. Additionally, StockNews.com upgraded AXIS Capital from a “hold” to a “buy” rating. Currently, three analysts have rated the stock as a hold, while seven have given it a buy rating. Based on these evaluations, the consensus rating stands at “Moderate Buy” with an average target price of $100.25.

About AXIS Capital Holdings Limited

AXIS Capital Holdings Limited is a provider of specialty insurance and reinsurance products, operating through its subsidiaries in Bermuda, the United States, and globally. The company is divided into two main segments: Insurance and Reinsurance. The Insurance segment offers a wide range of professional insurance products covering various liabilities, including directors' and officers' insurance, errors and omissions, medical malpractice, and property insurance for both commercial and residential properties.

Daiwa, AXIS, Investment