AXIS Capital (NYSE:AXS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities analysts also recently commented on AXS. Wells Fargo & Company increased their price objective on shares of AXIS Capital from $97.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 10th. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reduced their price objective on AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group increased their target price on AXIS Capital from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group lifted their price target on AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

AXIS Capital Trading Up 2.0 %

Shares of AXS opened at $94.79 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital has a 52-week low of $60.45 and a 52-week high of $101.42. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 3.96 and a beta of 0.67. The business’s fifty day moving average is $94.01 and its 200-day moving average is $89.24.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Equities analysts anticipate that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.86%. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Insider Activity

In other news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares of the company’s stock, valued at $406,613,715. The trade was a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

A number of hedge funds have recently added to or reduced their stakes in AXS. HighTower Advisors LLC bought a new stake in shares of AXIS Capital in the 3rd quarter valued at $638,000. State Street Corp grew 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. Jane Street Group LLC increased its stake in AXIS Capital by 21.3% in the third quarter. Jane Street Group LLC now owns 52,156 shares of the insurance provider’s stock valued at $4,152,000 after purchasing an additional 9,148 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of AXIS Capital by 35.7% during the third quarter. XTX Topco Ltd now owns 6,514 shares of the insurance provider’s stock valued at $519,000 after purchasing an additional 1,715 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of AXIS Capital during the 3rd quarter worth about $2,511,000. 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.