AXIS Capital Holdings Limited (NYSE:AXS) Receives $95.86 Average PT from Brokerages

AXIS Capital Holdings Limited (NYSE:AXS) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $95.86.

AXS has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Roth Mkm boosted their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Bank of America upped their price objective 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.

AXIS Capital Stock Performance

NYSE:AXS opened at $85.38 on Friday. The firm has a market capitalization of $7.14 billion, a PE ratio of 11.84, a PEG ratio of 0.29 and a beta of 0.90. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a 1 year low of $53.49 and a 1 year high of $86.92. The firm’s fifty day simple moving average is $80.79 and its 200 day simple moving average is $75.50.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $2.34 earnings per share. On average, sell-side analysts anticipate that AXIS Capital will post 10.89 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.44 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 2.06%. AXIS Capital’s payout ratio is currently 24.41%.

Hedge Funds Weigh In On AXIS Capital

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 165 shares during the period. GAMMA Investing LLC grew its holdings in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares during the last quarter. Covestor Ltd increased its position in shares of AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of AXIS Capital during the 3rd quarter worth about $40,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.