AXIS Capital (NYSE:AXS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a research report sent to investors on Friday.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of AXIS Capital from $75.00 to $80.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. UBS Group upped their target price on AXIS Capital from $77.00 to $80.00 and gave the company a buy rating in a research report on Monday, February 5th. Finally, Wells Fargo & Company lowered their price target on AXIS Capital from $59.00 to $57.00 and set an underweight rating for the company in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $67.33.

AXIS Capital Stock Performance

Shares of AXS opened at $65.39 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.54 billion, a PE ratio of 10.00, a P/E/G ratio of 1.29 and a beta of 0.80. AXIS Capital has a 12 month low of $51.61 and a 12 month high of $66.74. The stock has a fifty day moving average price of $62.84 and a 200-day moving average price of $58.73.

AXIS Capital (NYSE:AXS) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.17. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company posted $2.33 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that AXIS Capital will post 10.17 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Friday, March 1st. AXIS Capital’s payout ratio is 26.91%.

Insider Transactions at AXIS Capital

In other news, Director Stanley A. Galanski bought 7,000 shares of AXIS Capital stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $58.45 per share, with a total value of $409,150.00. Following the completion of the acquisition, the director now directly owns 9,763 shares of the company’s stock, valued at $570,647.35. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale acquired a new position in AXIS Capital during the fourth quarter worth about $1,785,000. Meritage Portfolio Management boosted its holdings in shares of AXIS Capital by 1,132.7% during the 4th quarter. Meritage Portfolio Management now owns 95,474 shares of the insurance provider’s stock worth $5,286,000 after purchasing an additional 87,729 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of AXIS Capital in the fourth quarter valued at approximately $3,503,000. Graham Capital Management L.P. increased its holdings in shares of AXIS Capital by 721.0% in the third quarter. Graham Capital Management L.P. now owns 58,670 shares of the insurance provider’s stock valued at $3,307,000 after purchasing an additional 51,524 shares during the last quarter. Finally, Sei Investments Co. lifted its position in AXIS Capital by 3.9% during the third quarter. Sei Investments Co. now owns 323,408 shares of the insurance provider’s stock worth $18,230,000 after buying an additional 12,019 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.