AXIS Capital (NYSE:AXS) Price Target Raised to $100.00

AXIS Capital (NYSE:AXS) had its price objective hoisted by Wells Fargo & Company from $97.00 to $100.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

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

AXIS Capital Trading Up 1.6 %

NYSE AXS opened at $92.86 on Thursday. The firm’s 50 day moving average price is $93.96 and its two-hundred day moving average price is $89.07. 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 twelve month low of $60.45 and a twelve month high of $101.42. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 3.96 and a beta of 0.67.

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

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 yield of 1.90%. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Insiders Place Their Bets

In other news, Director Charles A. Davis sold 2,139,037 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of AXIS Capital by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock valued at $1,226,000 after purchasing an additional 170 shares during the last quarter. Captrust Financial Advisors boosted its stake in AXIS Capital by 64.5% during the 3rd quarter. Captrust Financial Advisors now owns 6,930 shares of the insurance provider’s stock valued at $552,000 after purchasing an additional 2,718 shares during the period. Verition Fund Management LLC acquired a new stake in AXIS Capital in the 3rd quarter valued at approximately $453,000. HighTower Advisors LLC bought a new position in AXIS Capital in the 3rd quarter worth approximately $638,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of AXIS Capital by 97.4% during the third quarter. Quantinno Capital Management LP now owns 25,031 shares of the insurance provider’s stock worth $1,993,000 after buying an additional 12,350 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

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.