Keefe, Bruyette & Woods Increases AXIS Capital (NYSE:AXS) Price Target to $120.00

AXIS Capital (NYSE:AXS) had its target price upped by Keefe, Bruyette & Woods from $118.00 to $120.00 in a research report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

AXS has been the subject of several other reports. BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Wells Fargo & Company reduced their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

AXIS Capital Stock Down 0.1 %

AXIS Capital stock opened at $99.57 on Friday. AXIS Capital has a fifty-two week low of $60.45 and a fifty-two week high of $101.42. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The stock’s fifty day moving average is $93.00 and its two-hundred day moving average is $87.91. 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 issued its quarterly earnings data 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%. Analysts predict that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On AXIS Capital

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of AXIS Capital during the 4th quarter worth about $88,175,000. Norges Bank acquired a new position in AXIS Capital during the fourth quarter valued at approximately $88,147,000. FIL Ltd purchased a new stake in AXIS Capital during the fourth quarter worth approximately $43,893,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of AXIS Capital in the fourth quarter worth $37,775,000. Finally, Swedbank AB purchased a new position in shares of AXIS Capital in the 4th quarter valued at $31,118,000. 93.44% of the stock is currently 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.