Jefferies Financial Group Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price target lifted by Jefferies Financial Group from $116.00 to $119.00 in a report issued on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. UBS Group raised their target price on AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. StockNews.com lowered shares of AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, BMO Capital Markets began coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus price target of $106.75.

AXIS Capital Stock Up 1.6 %

Shares of NYSE AXS opened at $92.86 on Friday. The stock has a market capitalization of $7.30 billion, a PE ratio of 7.52, a P/E/G ratio of 3.96 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The business’s fifty day moving average price is $93.96 and its 200-day moving average price is $89.14. AXIS Capital has a one year low of $60.45 and a one year high of $101.42.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, equities research analysts anticipate that AXIS Capital will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. AXIS Capital’s dividend payout ratio is presently 14.25%.

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,234,636 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. This represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AXS. NBC Securities Inc. purchased a new position in AXIS Capital in the first quarter worth approximately $33,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AXIS Capital during the fourth quarter worth $53,000. Versant Capital Management Inc lifted its stake in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of AXIS Capital during the fourth quarter worth about $60,000. 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.