AXIS Capital (NYSE:AXS) Price Target Raised to $98.00 at UBS Group

AXIS Capital (NYSE:AXS - Free Report) had its price objective hoisted by UBS Group from $92.00 to $98.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the insurance provider's stock.

AXS has been the subject of a number of other research reports. Bank of America boosted their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted 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. Keefe, Bruyette & Woods raised their price objective on AXIS Capital from $86.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Roth Mkm upped their target price on AXIS Capital from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on AXIS Capital from $74.00 to $78.00 and gave the stock an "underweight" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.71.

AXIS Capital Stock Performance

AXS stock traded up $0.34 during midday trading on Monday, reaching $79.38. 423,083 shares of the company were exchanged, compared to its average volume of 578,360. AXIS Capital has a one year low of $53.14 and a one year high of $83.19. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. The business has a 50-day moving average price of $79.42 and a two-hundred day moving average price of $73.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.62.

AXIS Capital (NYSE:AXS - Get Free Report) last announced 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. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $2.34 EPS. Equities research analysts forecast that AXIS Capital will post 10.73 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.44 per share. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 2.22%. AXIS Capital's dividend payout ratio is currently 24.41%.

Institutional Trading of AXIS Capital

A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in AXIS Capital by 8,717.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider's stock worth $96,172,000 after buying an additional 1,345,811 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of AXIS Capital by 30.7% during the first 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. Levin Capital Strategies L.P. bought a new stake in shares of AXIS Capital in the first quarter worth $17,065,000. Millennium Management LLC increased its holdings in AXIS Capital by 1,644.8% in the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider's stock valued at $17,009,000 after purchasing an additional 226,956 shares during the period. Finally, AQR Capital Management LLC raised its position in AXIS Capital by 9.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider's stock worth $182,538,000 after purchasing an additional 213,559 shares during 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.