AXIS Capital (NYSE:AXS) Price Target Cut to $114.00 by Analysts at Keefe, Bruyette & Woods

AXIS Capital (NYSE:AXS - Get Free Report) had its price target cut by Keefe, Bruyette & Woods from $120.00 to $114.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 20.80% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. 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. StockNews.com lowered AXIS Capital from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, BMO Capital Markets assumed coverage on AXIS Capital in a report on Monday, January 13th. They issued a "market perform" rating and a $93.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $106.75.

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AXIS Capital Stock Performance

Shares of AXIS Capital stock traded up $1.47 on Wednesday, hitting $94.37. The stock had a trading volume of 89,159 shares, compared to its average volume of 604,217. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67. The business's 50 day moving average is $93.96 and its two-hundred day moving average is $89.14. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a twelve month low of $60.45 and a twelve month high of $101.42.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping 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%. Analysts forecast that AXIS Capital will post 11.19 EPS for the current year.

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 2,404,133 shares of the company's stock, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXS. NBC Securities Inc. acquired a new position in AXIS Capital in the 1st quarter worth about $33,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AXIS Capital in the fourth quarter valued at approximately $53,000. Versant Capital Management Inc raised its holdings in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in AXIS Capital by 73.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after buying an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in AXIS Capital during the 4th quarter worth approximately $60,000. 93.44% of the stock is currently owned by institutional investors.

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.