AXIS Capital (NYSE:AXS) Hits New 52-Week High Following Analyst Upgrade

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report)'s share price reached a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $118.00 to $120.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. AXIS Capital traded as high as $101.42 and last traded at $99.20, with a volume of 800856 shares changing hands. The stock had previously closed at $99.64.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 price target on the stock. StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th. JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.50.

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Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 4,543,170 shares of the company's stock, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of AXIS Capital

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of AXIS Capital by 203.9% during the first quarter. Versant Capital Management Inc now owns 2,039 shares of the insurance provider's stock worth $204,000 after purchasing an additional 1,368 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in AXIS Capital by 60.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,658 shares of the insurance provider's stock worth $2,451,000 after acquiring an additional 10,393 shares during the period. Jefferies Financial Group Inc. raised its holdings in AXIS Capital by 197.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider's stock valued at $2,175,000 after acquiring an additional 16,298 shares in the last quarter. Mackenzie Financial Corp acquired a new position in AXIS Capital in the 4th quarter valued at $610,000. Finally, Forum Financial Management LP bought a new stake in shares of AXIS Capital during the 4th quarter valued at $254,000. Institutional investors own 93.44% of the company's stock.

AXIS Capital Trading Down 7.8 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The firm has a fifty day moving average price of $93.90 and a 200-day moving average price of $88.40.

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, equities analysts anticipate that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital's payout ratio is presently 14.25%.

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.