AXIS Capital (NYSE:AXS) Raised to Buy at StockNews.com

AXIS Capital (NYSE:AXS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also weighed in on AXS. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. UBS Group raised their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 9th. BMO Capital Markets began coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on shares of AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company increased their target price on AXIS Capital from $97.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday. Three equities research 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 $106.75.

AXIS Capital Price Performance

AXS opened at $92.86 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $93.96 and a 200 day moving average of $89.14. AXIS Capital has a 52-week low of $60.45 and a 52-week high of $101.42. The stock has a market cap of $7.30 billion, a P/E ratio of 7.52, a PEG ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that AXIS Capital will post 11.19 EPS for the current year.

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 value of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in AXIS Capital by 7.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock valued at $171,000 after buying an additional 134 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of AXIS Capital by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock worth $248,000 after acquiring an additional 137 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of AXIS Capital by 21.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider’s stock worth $80,000 after acquiring an additional 160 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of AXIS Capital by 0.4% during the 4th quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider’s stock valued at $3,626,000 after acquiring an additional 163 shares during the period. Hedge funds and other 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.