Brokerages Set AXIS Capital Holdings Limited (NYSE:AXS) Target Price at $98.71

AXIS Capital Holdings Limited (NYSE:AXS) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $98.71.

A number of equities analysts recently commented on AXS shares. Jefferies Financial Group raised their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America boosted their price objective on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company raised shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $78.00 to $89.00 in a report on Wednesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in AXIS Capital during the third quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. grew its position in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after acquiring an additional 985 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in AXIS Capital during the third quarter worth approximately $99,000. Finally, GAMMA Investing LLC raised its position in AXIS Capital by 158.0% during the third quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 801 shares during the period. 93.44% of the stock is currently owned by institutional investors.

AXIS Capital Price Performance

Shares of AXS opened at $91.77 on Thursday. The firm has a market cap of $7.68 billion, a PE ratio of 12.73, a P/E/G ratio of 0.31 and a beta of 0.94. AXIS Capital has a 1-year low of $53.49 and a 1-year high of $94.54. 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 firm has a fifty day simple moving average of $85.33 and a two-hundred day simple moving average of $78.08.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $2.34 earnings per share. On average, equities analysts anticipate that AXIS Capital will post 10.83 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.44 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.92%. AXIS Capital’s payout ratio is 24.41%.

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.