Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for AXIS Capital (NYSE:AXS) Stock

AXIS Capital (NYSE:AXS) had its target price increased by research analysts at Keefe, Bruyette & Woods from $118.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 20.51% from the company’s current price.

Several other research firms have also weighed in on AXS. 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 note on Tuesday, January 14th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. BMO Capital Markets initiated coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective for the company. Finally, StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

AXIS Capital Stock Performance

Shares of NYSE AXS opened at $99.57 on Friday. The stock has a market capitalization of $8.04 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $101.42. The stock has a 50 day moving average price of $93.00 and a 200 day moving average price of $87.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Analysts predict that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in AXIS Capital by 48.6% in the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after acquiring an additional 121,437 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of AXIS Capital in the third quarter worth $638,000. Verition Fund Management LLC acquired a new position in AXIS Capital in the third quarter valued at about $453,000. Geode Capital Management LLC lifted its position in AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after purchasing an additional 43,687 shares during the period. Finally, Summit Trail Advisors LLC acquired a new stake in AXIS Capital during the fourth quarter worth about $300,000. 93.44% of the stock is currently owned by 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.