AXIS Capital (NYSE:AXS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS - Free Report) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other analysts have also commented on AXS. UBS Group boosted their target price on AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, November 4th. TD Cowen increased their price target on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a report on Monday, February 3rd. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.88.

Remove Ads

AXIS Capital Price Performance

Shares of NYSE AXS traded down $0.76 during trading hours on Tuesday, hitting $91.91. 158,593 shares of the stock were exchanged, compared to its average volume of 548,290. The company's fifty day simple moving average is $90.77 and its two-hundred day simple moving average is $85.77. The company has a market cap of $7.42 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95. AXIS Capital has a 1-year low of $60.45 and a 1-year high of $98.11. 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 released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (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 predict that AXIS Capital will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.92%. AXIS Capital's dividend payout ratio (DPR) is currently 14.25%.

Insider Activity

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 stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of AXIS Capital

A number of hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance boosted its holdings in AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider's stock valued at $2,591,000 after purchasing an additional 125 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider's stock worth $2,542,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc raised its holdings in AXIS Capital by 24.0% during 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 in the last quarter. Parkside Financial Bank & Trust boosted its stake in AXIS Capital by 7.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider's stock valued at $171,000 after acquiring an additional 134 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of AXIS Capital by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider's stock valued at $248,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 93.44% of the company's stock.

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.