There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 28, AXIS Capital Holdings Ltd's Director, Charles A. Davis, invested $1,247,600.00 into 25,000 shares of AXS, for a cost per share of $49.90. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of AXIS Capital Holdings Ltd (Symbol: AXS) and achieve a cost basis even cheaper than Davis, with shares changing hands as low as $49.80 per share. AXIS Capital Holdings Ltd shares are currently trading up about 5% on the day. The chart below shows the one year performance of AXS shares, versus its 200 day moving average:
Looking at the chart above, AXS's low point in its 52 week range is $47.43 per share, with $69.625 as the 52 week high point - that compares with a last trade of $50.79. By comparison, below is a table showing the prices at which AXS insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
02/28/2018
Charles A. Davis
Director
25,000
$49.90
$1,247,600.00
The current annualized dividend paid by AXIS Capital Holdings Ltd is $1.56/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 03/28/2018. Below is a long-term dividend history chart for AXS, which can be of good help in judging whether the most recent dividend with approx. 3.2% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, AXS makes up 2.40% of the SPDR S&P Insurance ETF (Symbol: KIE) which is trading relatively unchanged on the day Monday.
Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
