JMP Securities Reiterates Market Perform Rating for AXIS Capital (NYSE:AXS)

AXIS Capital (NYSE:AXS - Get Free Report)'s stock had its "market perform" rating reissued by research analysts at JMP Securities in a research report issued on Monday,Benzinga reports.

Other analysts have also recently issued research reports about the company. StockNews.com cut AXIS Capital from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. BMO Capital Markets assumed coverage on AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective for the company. Bank of America lifted their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price objective on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $99.88.

AXIS Capital Price Performance

Shares of AXS stock traded up $1.57 during mid-day trading on Monday, reaching $94.14. The stock had a trading volume of 666,622 shares, compared to its average volume of 698,001. AXIS Capital has a 12-month low of $57.95 and a 12-month high of $94.89. The company has a market cap of $7.87 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 3.87 and a beta of 0.95. The business has a 50-day simple moving average of $90.04 and a 200 day simple moving average of $83.03. 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 announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates 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 anticipate that AXIS Capital will post 11.36 earnings per share for the current year.

Insider Activity

In other news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares of the company's stock, valued at $406,613,715. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Independent Advisor Alliance lifted its stake in shares of 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 in the last quarter. Pathstone Holdings LLC lifted its position 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 acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc lifted its position in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after acquiring an additional 130 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in AXIS Capital by 7.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider's stock worth $171,000 after acquiring an additional 134 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider's stock worth $248,000 after acquiring an additional 137 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.