AXIS Capital (NYSE:AXS) Rating Lowered to Hold at StockNews.com

AXIS Capital (NYSE:AXS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on 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. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. UBS Group increased their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, BMO Capital Markets initiated coverage on shares of AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and an average target price of $99.88.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $95.00 on Monday. AXIS Capital has a fifty-two week low of $60.06 and a fifty-two week high of $95.58. The company has a market cap of $7.95 billion, a PE ratio of 7.69, a P/E/G ratio of 3.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50-day simple moving average of $89.95 and a two-hundred day simple moving average of $84.89.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping 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, equities analysts expect that AXIS Capital will post 11.19 EPS for the current fiscal year.

Insider Buying and Selling at AXIS Capital

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

Hedge Funds Weigh In On AXIS Capital

A number of large investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its position in shares of AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after buying an additional 121,437 shares in the last quarter. HighTower Advisors LLC purchased a new stake in AXIS Capital in the 3rd quarter worth $638,000. Verition Fund Management LLC purchased a new stake in AXIS Capital in the 3rd quarter worth $453,000. Entropy Technologies LP acquired a new position in AXIS Capital during the third quarter worth $507,000. Finally, Jennison Associates LLC lifted its holdings in AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after purchasing an additional 318,784 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.