AXIS Capital (NYSE:AXS) Sets New 1-Year High – Here’s Why

Shares of AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high on Friday . The stock traded as high as $86.15 and last traded at $85.76, with a volume of 16830 shares changing hands. The stock had previously closed at $85.08.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXS. TD Cowen began coverage on AXIS Capital in a research note on Friday, October 4th. They issued a “buy” rating and a $118.00 price target on the stock. UBS Group lifted their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group increased their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and seven have issued 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 price target of $95.86.

AXIS Capital Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company’s 50-day moving average price is $80.42 and its 200 day moving average price is $75.12. The stock has a market capitalization of $7.26 billion, a PE ratio of 12.03, a PEG ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $2.34 EPS. On average, equities research analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.44 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.03%. AXIS Capital’s payout ratio is 24.41%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of AXIS Capital in the 1st quarter worth approximately $683,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of AXIS Capital during the first quarter valued at $328,000. Empowered Funds LLC purchased a new position in shares of AXIS Capital in the 1st quarter worth about $205,000. State Board of Administration of Florida Retirement System boosted its stake in AXIS Capital by 4.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 100,737 shares of the insurance provider’s stock worth $6,550,000 after purchasing an additional 4,703 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in AXIS Capital by 40.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,747 shares of the insurance provider’s stock worth $894,000 after purchasing an additional 3,970 shares in the last quarter. 93.44% of the stock is currently owned by 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.