AXIS Capital Holdings Limited (NYSE:AXS) Receives Average Rating of “Moderate Buy” from Brokerages

AXIS Capital Holdings Limited (NYSE:AXS) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $99.88.

AXS has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. StockNews.com cut shares of AXIS Capital from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group lifted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen increased their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $94.12 on Tuesday. AXIS Capital has a 12 month low of $60.06 and a 12 month high of $94.94. 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 cap of $7.87 billion, a P/E ratio of 7.62, a P/E/G ratio of 4.00 and a beta of 0.95. The company has a 50 day moving average of $89.90 and a 200 day moving average of $84.74.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. As a group, sell-side analysts forecast that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.87%. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Insider Activity at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the completion of the sale, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AXIS Capital

A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of AXIS Capital in the fourth quarter worth approximately $88,175,000. Norges Bank bought a new stake in AXIS Capital in the 4th quarter worth $88,147,000. FIL Ltd purchased a new position in shares of AXIS Capital in the fourth quarter valued at about $43,893,000. Massachusetts Financial Services Co. MA purchased a new position in shares of AXIS Capital in the fourth quarter valued at about $37,775,000. Finally, Swedbank AB bought a new position in shares of AXIS Capital during the fourth quarter valued at about $31,118,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.