AXIS Capital (NYSE:AXS) Hits New 52-Week High on Analyst Upgrade

AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $118.00 to $120.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. AXIS Capital traded as high as $101.42 and last traded at $99.20, with a volume of 800856 shares changing hands. The stock had previously closed at $99.64.

A number of other brokerages also recently commented on AXS. BMO Capital Markets started coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three investment 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.com, AXIS Capital has an average rating of “Moderate Buy” and an average price target of $100.50.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXS. Steward Partners Investment Advisory LLC purchased a new stake in AXIS Capital during the 4th quarter valued at about $53,000. Versant Capital Management Inc lifted its holdings in AXIS Capital by 24.0% in the fourth 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 last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of AXIS Capital by 73.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 285 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of AXIS Capital during the 4th quarter worth about $60,000. Finally, Assetmark Inc. purchased a new stake in shares of AXIS Capital in the 4th quarter valued at approximately $70,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Stock Up 0.1 %

The business has a 50 day simple moving average of $93.42 and a 200 day simple moving average of $88.24. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

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

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given 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 1.75%. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

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.