In a recent transaction on May 28, Stanley A. Galanski, a director at AXIS Capital Holdings Ltd (NYSE:AXS), acquired 2,000 shares of the company's common stock. The purchase, which amounted to a total of $142,860, was made at a weighted average price of $71.43 per share.
The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission. According to the details provided, the shares were bought in multiple transactions at prices ranging from $71.39 to $71.49 each. Following this purchase, Galanski now directly owns a total of 11,763 AXIS Capital shares.
Investors often monitor insider buying as it can be a sign of confidence in the company's future prospects. The increase in Galanski's stake in AXIS Capital Holdings Ltd is notable, as it reflects a substantial investment at prevailing market prices.
AXIS Capital Holdings Ltd, with a business address at 92 Pitts Bay Road, Pembroke, is a global insurer and reinsurer offering clients and distribution partners a wide range of specialized risk transfer products and services. The company is listed on the New York Stock Exchange under the ticker symbol AXS.
The filing did not include any sales of AXIS Capital shares by Galanski or any other transactions involving derivative securities. It's also worth noting that the filing included a footnote indicating that Galanski is willing to provide full information regarding the number of shares purchased at each separate price within the range upon request.
Investors and shareholders of AXIS Capital Holdings Ltd can access the full details of the transaction by referring to the Form 4 filing available on the Securities and Exchange Commission's website.
InvestingPro Insights
AXIS Capital Holdings Ltd (NYSE:AXS) has been showing a robust financial performance, with recent data highlighting some key metrics that may interest investors. According to InvestingPro, AXIS Capital's market capitalization stands at a solid $6.16 billion, reflecting the company's substantial presence in the insurance industry. The company's Price-to-Earnings (P/E) ratio, a measure of its current share price relative to its per-share earnings, is 11.03, which has slightly adjusted to 10.26 when looking at the last twelve months as of Q1 2024. This may suggest that the company's stock is reasonably valued compared to its earnings.
Moreover, the company has been experiencing a healthy revenue growth rate of 9.69% over the last twelve months as of Q1 2024. This figure is complemented by a quarterly revenue growth of 5.97% in Q1 2024, indicating a steady increase in the company's revenue streams. Such growth is a positive signal for potential investors, as it suggests that AXIS Capital is expanding its business and increasing its market share.
Among the InvestingPro Tips, it's noteworthy that AXIS Capital has been consistently rewarding shareholders, having raised its dividend for 21 consecutive years. This track record is further extended to 22 years, showing the company's commitment to returning value to its investors. Furthermore, management's aggressive share buyback strategy is a vote of confidence in the company's valuation and future prospects. With 4 analysts having revised their earnings upwards for the upcoming period, there is an optimistic outlook on the company's financial performance.
For investors looking for more in-depth analysis, there are additional InvestingPro Tips available, which can provide further insights into AXIS Capital's financial health and market position. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, unlocking access to these valuable insights.
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