AXIS Capital (NYSE:AXS) Stock Price Expected to Rise, UBS Group Analyst Says

AXIS Capital (NYSE:AXS) had its price target boosted by UBS Group from $92.00 to $98.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also weighed in on AXS. TD Cowen initiated coverage on shares of AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 price objective on the stock. Roth Mkm raised their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group upped their price objective 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. Keefe, Bruyette & Woods increased their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price target on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. One 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, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

AXIS Capital Trading Up 4.3 %

AXIS Capital stock opened at $83.54 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. AXIS Capital has a 12 month low of $53.14 and a 12 month high of $84.84. The company’s fifty day simple moving average is $79.63 and its 200-day simple moving average is $74.01. The stock has a market cap of $6.99 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.26 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts forecast that AXIS Capital will post 10.98 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is 24.41%.

Hedge Funds Weigh In On AXIS Capital

A number of institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new stake in AXIS Capital during the 1st quarter valued at approximately $669,000. Janney Montgomery Scott LLC acquired a new position in shares of AXIS Capital during the first quarter worth approximately $683,000. Daiwa Securities Group Inc. boosted its position in shares of AXIS Capital by 600.0% in the first quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the insurance provider’s stock valued at $455,000 after acquiring an additional 6,000 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AXIS Capital in the first quarter worth $328,000. Finally, Sciencast Management LP bought a new position in AXIS Capital during the first quarter worth $572,000. 93.44% of the stock is currently owned by institutional investors.

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.