AXIS Capital (NYSE:AXS) Upgraded at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a research note issued to investors on Monday.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company decreased their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets started coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.88.

AXIS Capital Price Performance

Shares of AXIS Capital stock opened at $89.50 on Monday. 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 company has a market cap of $7.49 billion, a PE ratio of 7.25, a P/E/G ratio of 4.01 and a beta of 0.95. The business has a 50 day moving average of $89.88 and a 200 day moving average of $83.64. AXIS Capital has a 52 week low of $59.53 and a 52 week high of $94.89.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS 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%. As a group, equities research analysts forecast that AXIS Capital will post 11.36 earnings per share for the current year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.97%. AXIS Capital’s payout ratio is presently 14.25%.

Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares of the company’s stock, valued at $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in shares of AXIS Capital by 1.7% during the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock valued at $281,680,000 after buying an additional 53,514 shares during the last quarter. State Street Corp boosted its position in shares of AXIS Capital by 7.2% during the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock valued at $134,110,000 after buying an additional 112,536 shares during the last quarter. Jennison Associates LLC boosted its position in shares of AXIS Capital by 1.6% during the fourth quarter. Jennison Associates LLC now owns 1,650,965 shares of the insurance provider’s stock valued at $146,309,000 after buying an additional 25,908 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of AXIS Capital by 2.4% during the third quarter. Victory Capital Management Inc. now owns 1,394,491 shares of the insurance provider’s stock valued at $111,015,000 after buying an additional 33,241 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of AXIS Capital by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock valued at $100,921,000 after buying an additional 43,687 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.