AXIS Capital (NYSE:AXS) Price Target Raised to $120.00

AXIS Capital (NYSE:AXS) had its target price hoisted by Keefe, Bruyette & Woods from $118.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company cut their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.50.

AXIS Capital Price Performance

AXS stock opened at $99.57 on Friday. AXIS Capital has a 1 year low of $60.45 and a 1 year high of $101.42. The firm has a market capitalization of $8.04 billion, a P/E ratio of 8.06, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The business’s 50-day moving average is $93.00 and its two-hundred day moving average is $87.91.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (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%. Analysts anticipate that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of AXIS Capital

A number of hedge funds have recently added to or reduced their stakes in AXS. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the third quarter worth approximately $40,000. Steward Partners Investment Advisory LLC acquired a new position in AXIS Capital in the 4th quarter valued at $53,000. Versant Capital Management Inc raised its position in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital in the fourth quarter valued at about $60,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.