AXIS Capital (NYSE:AXS) Reaches New 1-Year High – Here’s What Happened

AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $87.24 and last traded at $87.17, with a volume of 1513 shares traded. The stock had previously closed at $86.56.

Wall Street Analysts Forecast Growth

AXS has been the subject of several research reports. Jefferies Financial Group raised their price target 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. Roth Mkm lifted their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group upped their price target 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. TD Cowen assumed coverage on AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell 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 $95.86.

AXIS Capital Price Performance

The company’s 50-day simple moving average is $81.25 and its 200 day simple moving average is $75.66. 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 stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $2.34 earnings per share. Equities research analysts forecast that AXIS Capital Holdings Limited will post 10.89 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is presently 24.41%.

Hedge Funds Weigh In On AXIS Capital

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of AXIS Capital by 40.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,747 shares of the insurance provider’s stock valued at $894,000 after purchasing an additional 3,970 shares in the last quarter. Covestor Ltd boosted its position in shares of AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 185 shares in the last quarter. Toronto Dominion Bank bought a new stake in AXIS Capital in the first quarter valued at about $5,137,000. Quadrature Capital Ltd raised its position in AXIS Capital by 20.3% in the first quarter. Quadrature Capital Ltd now owns 29,710 shares of the insurance provider’s stock worth $1,931,000 after purchasing an additional 5,013 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in AXIS Capital by 862.6% during the first quarter. Lazard Asset Management LLC now owns 139,401 shares of the insurance provider’s stock worth $9,063,000 after purchasing an additional 124,919 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.