AXIS Capital (NYSE:AXS) Hits New 1-Year High - Here's Why

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $86.15 and last traded at $85.76, with a volume of 16830 shares changing hands. The stock had previously closed at $85.08.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on AXIS Capital from $74.00 to $78.00 and gave the stock an "underweight" rating in a research report on Thursday, October 10th. UBS Group upped their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Bank of America raised their price objective on AXIS Capital from $81.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.86.

AXIS Capital Stock Performance

The firm has a market cap of $7.25 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.29 and a beta of 0.90. The business's fifty day simple moving average is $80.42 and its 200-day simple moving average is $75.02. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.16. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same quarter in the prior year, the company posted $2.34 EPS. As a group, sell-side analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital's dividend payout ratio (DPR) is currently 24.41%.

Hedge Funds Weigh In On AXIS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in AXIS Capital by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider's stock valued at $287,909,000 after purchasing an additional 152,914 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of AXIS Capital by 9.0% during the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider's stock valued at $182,538,000 after purchasing an additional 213,559 shares during the last quarter. Janus Henderson Group PLC grew its position in AXIS Capital by 30.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider's stock worth $150,928,000 after purchasing an additional 545,546 shares during the period. State Street Corp grew its holdings in shares of AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider's stock worth $134,110,000 after acquiring an additional 112,536 shares during the period. Finally, Jennison Associates LLC lifted its holdings in AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider's stock valued at $129,371,000 after acquiring an additional 318,784 shares during the period. Hedge funds and other 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.