AXIS Capital (NYSE:AXS) Cut to "Hold" at StockNews.com

AXIS Capital (NYSE:AXS - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

AXS has been the subject of several other research reports. UBS Group lifted their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on shares of AXIS Capital from $108.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Finally, BMO Capital Markets started coverage on AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 target price on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $99.25.

AXIS Capital Stock Performance

AXS traded up $0.21 during midday trading on Friday, reaching $90.37. The company had a trading volume of 527,330 shares, compared to its average volume of 690,775. The business has a 50-day moving average price of $90.07 and a two-hundred day moving average price of $82.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital has a 12-month low of $56.93 and a 12-month high of $94.89. The stock has a market cap of $7.56 billion, a PE ratio of 7.32, a P/E/G ratio of 3.87 and a beta of 0.95.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, sell-side analysts expect that AXIS Capital will post 11.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in AXIS Capital by 7.2% during the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider's stock worth $134,110,000 after purchasing an additional 112,536 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of AXIS Capital by 1.6% during the 4th quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider's stock valued at $146,309,000 after buying an additional 25,908 shares in the last quarter. Victory Capital Management Inc. boosted its stake in AXIS Capital by 2.4% in the third quarter. Victory Capital Management Inc. now owns 1,394,491 shares of the insurance provider's stock worth $111,015,000 after buying an additional 33,241 shares in the last quarter. Geode Capital Management LLC grew its position in AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider's stock valued at $100,921,000 after acquiring an additional 43,687 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of AXIS Capital by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,183,385 shares of the insurance provider's stock worth $94,209,000 after acquiring an additional 9,181 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.