Wells Fargo & Company upgraded shares of AXIS Capital (NYSE:AXS - Free Report) from an underweight rating to an equal weight rating in a research report released on Wednesday morning, Marketbeat.com reports. They currently have $89.00 target price on the insurance provider's stock, up from their prior target price of $78.00.
A number of other research analysts have also weighed in on AXS. UBS Group increased their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Bank of America lifted their price target on AXIS Capital from $81.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, October 10th. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods upped their price target 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, AXIS Capital has an average rating of "Moderate Buy" and an average price target of $98.71.
View Our Latest Analysis on AXS
AXIS Capital Price Performance
Shares of NYSE AXS traded up $1.90 during trading on Wednesday, reaching $90.97. The company had a trading volume of 533,045 shares, compared to its average volume of 571,393. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.61 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. AXIS Capital has a twelve month low of $53.49 and a twelve month high of $94.54. The stock has a 50-day moving average price of $84.69 and a two-hundred day moving average price of $77.72.
AXIS Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.16. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same period in the prior year, the firm earned $2.34 EPS. As a group, sell-side analysts predict that AXIS Capital will post 10.83 earnings per share for the current year.
AXIS Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.93%. AXIS Capital's payout ratio is 24.41%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. grew its position in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. raised its stake in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider's stock valued at $97,000 after purchasing an additional 985 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of AXIS Capital during the third quarter worth $99,000. Finally, GAMMA Investing LLC boosted its stake in shares of AXIS Capital by 158.0% in the third quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider's stock valued at $104,000 after purchasing an additional 801 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.
About AXIS Capital
(
Get Free Report)
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.
Featured Articles
Before you consider AXIS Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AXIS Capital wasn't on the list.
While AXIS Capital currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
