AXIS Capital (NYSE:AXS) Upgraded by StockNews.com to "Buy" Rating

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

AXS has been the subject of a number of other reports. UBS Group raised their price target on AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Jefferies Financial Group increased their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their price objective on shares of AXIS Capital from $97.00 to $100.00 and gave the company an "equal weight" rating in a report on Thursday, April 10th. Finally, BMO Capital Markets initiated coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.75.

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AXIS Capital Price Performance

AXS stock traded up $0.66 during trading on Friday, hitting $95.20. 256,329 shares of the company's stock traded hands, compared to its average volume of 603,678. The business has a fifty day simple moving average of $94.02 and a 200 day simple moving average of $89.28. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $101.42. 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 stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS 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%. As a group, research analysts expect that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.85%. AXIS Capital's dividend payout ratio is currently 14.25%.

Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the firm's stock in a transaction dated 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 trade represents a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AXIS Capital

Institutional investors have recently bought and sold shares of the business. NorthCrest Asset Manangement LLC acquired a new stake in shares of AXIS Capital in the first quarter worth $326,000. SG Americas Securities LLC acquired a new stake in AXIS Capital during the 1st quarter worth about $330,000. Ibex Wealth Advisors acquired a new position in shares of AXIS Capital in the 1st quarter valued at about $4,115,000. GAMMA Investing LLC boosted its stake in shares of AXIS Capital by 14.9% in the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after buying an additional 240 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in AXIS Capital by 89.5% during the first quarter. Pallas Capital Advisors LLC now owns 22,817 shares of the insurance provider's stock worth $2,287,000 after acquiring an additional 10,778 shares during the period. 93.44% of the stock is 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.