AXIS Capital (NYSE:AXS) Reaches New 12-Month High - Here's Why

Shares of AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $98.26 and last traded at $98.03, with a volume of 815955 shares. The stock had previously closed at $95.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AXS shares. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price on the stock. Wells Fargo & Company cut their price target on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $118.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, AXIS Capital has an average rating of "Moderate Buy" and a consensus target price of $100.50.

Remove Ads

AXIS Capital Stock Down 0.1 %

The company has a market capitalization of $8.04 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The company's fifty day moving average is $92.81 and its 200-day moving average is $87.59. 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 (NYSE:AXS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. As a group, analysts predict that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.77%. AXIS Capital's payout ratio is 14.25%.

Insider Buying and Selling

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors and hedge funds have recently modified their holdings of AXS. True Wealth Design LLC purchased a new position in AXIS Capital during the third quarter valued at $40,000. Steward Partners Investment Advisory LLC purchased a new position in shares of AXIS Capital during the fourth quarter valued at about $53,000. Versant Capital Management Inc increased its holdings in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after buying an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in AXIS Capital during the fourth quarter valued at approximately $60,000. Institutional investors own 93.44% of the company's stock.

AXIS Capital Company Profile

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.