Schroder Investment Management Group has decreased its holdings in Axis Capital Holdings Limited by 11.2% during the second quarter of 2023. According to the firm’s most recent *Form 13F* filing with the U.S. Securities and Exchange Commission, Schroder now owns 296,296 shares of the insurance provider’s stock, valued at approximately $30.76 million after selling 37,537 shares during the quarter.
The shift in Schroder’s holdings reflects broader trends in the investment landscape, as several other institutional investors have also adjusted their stakes in Axis Capital. Notably, Smithfield Trust Co increased its holdings by an impressive 94.0% during the same period, now owning 293 shares valued at $31,000 after acquiring an additional 142 shares. Similarly, AlphaCore Capital LLC entered a new position worth $37,000, while Elevation Point Wealth Partners LLC purchased shares valued at approximately $41,000.
Another significant player, Allworth Financial LP, raised its position by 145.1%, bringing its total to 581 shares valued at $60,000 after buying an additional 344 shares. SBI Securities Co. Ltd. also increased its stake by 21.6%, now owning 658 shares worth $68,000. Collectively, hedge funds and institutional investors hold approximately 93.44% of Axis Capital’s stock.
Analysts Weigh In on Axis Capital
Recent reports from various research analysts have provided insights into Axis Capital’s market performance. On October 8, 2023, UBS Group raised its price target for Axis shares from $119.00 to $120.00, maintaining a “buy” rating. Following suit, Keefe, Bruyette & Woods also increased their price objective from $119.00 to $121.00 while rating the stock as “outperform.”
Additionally, Royal Bank of Canada recently initiated coverage on Axis Capital, assigning an “outperform” rating and setting a target price of $125.00. In contrast, The Goldman Sachs Group began coverage with a “neutral” rating and a price target of $104.00. In total, seven analysts have rated the stock as a “buy,” while three have issued a “hold” rating, leading to a consensus rating of “Moderate Buy” with a price target of $115.75, according to MarketBeat.
Axis Capital’s Financial Performance
On October 29, 2023, Axis Capital announced its quarterly earnings, reporting earnings per share (EPS) of $3.25. This figure surpassed analysts’ consensus estimates of $2.72 by $0.53. The company achieved a net margin of 16.08% and a return on equity of 19.25%. Revenue for the quarter reached $1.67 billion, exceeding analyst expectations of $1.33 billion and reflecting a 3.9% increase year-over-year.
As the company continues to navigate a competitive market, its stock performance remains noteworthy. Shares of Axis Capital opened at $102.21 with a 50-day simple moving average of $96.61 and a 200-day simple moving average of $98.17. The stock has fluctuated between a 12-month low of $83.90 and a high of $107.19. Axis Capital maintains a market capitalization of $7.87 billion, with a price-to-earnings (PE) ratio of 8.45 and a debt-to-equity ratio of 0.26.
In addition to its financial performance, Axis Capital recently declared a quarterly dividend of $0.44 per share, paid on October 17, 2023. This dividend represents an annualized yield of 1.7% and a payout ratio of 14.55%.
Axis Capital Holdings Limited operates through its subsidiaries, offering specialty insurance and reinsurance products across various regions, including Bermuda, the United States, and internationally. The company’s offerings encompass a wide range of insurance solutions, catering to commercial enterprises, financial institutions, and not-for-profit organizations.
