AXIS Capital (NYSE:AXS) Price Target Raised to $118.00

AXIS Capital (NYSE:AXS) had its target price increased by Keefe, Bruyette & Woods from $115.00 to $118.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other equities analysts also recently issued reports on AXS. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. TD Cowen raised their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets began coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.25.

AXIS Capital Stock Performance

NYSE AXS opened at $93.66 on Thursday. The firm’s fifty day moving average price is $91.16 and its two-hundred day moving average price is $86.51. The stock has a market cap of $7.57 billion, a PE ratio of 7.58, a PEG ratio of 3.96 and a beta of 0.91. 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 has a fifty-two week low of $60.45 and a fifty-two week high of $98.11.

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

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.88%. AXIS Capital’s payout ratio is presently 14.25%.

Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of AXIS Capital

Several hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the 3rd quarter worth approximately $40,000. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital during the 4th quarter worth $53,000. Versant Capital Management Inc raised its stake in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 130 shares during the period. EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in AXIS Capital during the fourth quarter valued at about $60,000. Institutional investors 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.