Wells Fargo & Company Issues Pessimistic Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price objective dropped by investment analysts at Wells Fargo & Company from $89.00 to $85.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.79% from the stock’s current price.

A number of other research analysts also recently commented on AXS. BMO Capital Markets initiated coverage on AXIS Capital in a report on Monday. They set a “market perform” rating and a $93.00 target price on the stock. Jefferies Financial Group lifted 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 $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Bank of America lifted their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price objective 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.25.

AXIS Capital Stock Up 0.6 %

AXS stock opened at $88.35 on Tuesday. The company has a market capitalization of $7.39 billion, a P/E ratio of 12.25, a PEG ratio of 0.31 and a beta of 0.95. The firm has a 50 day simple moving average of $89.03 and a 200-day simple moving average of $80.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a twelve month low of $53.88 and a twelve month high of $94.89.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. On average, equities research analysts predict that AXIS Capital will post 10.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXIS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in AXIS Capital by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock worth $287,909,000 after acquiring an additional 152,914 shares during the period. AQR Capital Management LLC raised its stake in shares of AXIS Capital by 9.0% during the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after purchasing an additional 213,559 shares in the last quarter. State Street Corp lifted its holdings in AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock worth $134,110,000 after purchasing an additional 112,536 shares during the period. Jennison Associates LLC grew its position in AXIS Capital by 24.4% in the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after buying an additional 318,784 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in AXIS Capital by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after buying an additional 157,110 shares during the period. 93.44% of the stock is 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.