AXIS Capital (NYSE:AXS) PT Raised to $95.00 at Jefferies Financial Group

AXIS Capital (NYSE:AXS) had its target price lifted by equities researchers at Jefferies Financial Group from $88.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.72% from the company’s previous close.

A number of other research analysts also recently commented on AXS. UBS Group increased their price objective on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Company increased their price objective on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. TD Cowen started coverage on shares of AXIS Capital in a research report on Friday, October 4th. They issued a “buy” rating and a $118.00 price target on the stock. Finally, Bank of America raised their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

AXIS Capital Trading Up 1.6 %

Shares of AXIS Capital stock traded up $1.28 during trading hours on Wednesday, hitting $81.39. The company’s stock had a trading volume of 301,057 shares, compared to its average volume of 581,394. AXIS Capital has a 1-year low of $52.90 and a 1-year high of $82.33. The business has a fifty day moving average of $77.03 and a 200 day moving average of $71.54. The company has a market capitalization of $6.89 billion, a PE ratio of 12.45, a P/E/G ratio of 0.26 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.41. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, equities analysts forecast that AXIS Capital will post 10.71 EPS for the current year.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds have recently made changes to their positions in AXS. Versant Capital Management Inc grew its stake in shares of AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares during the last quarter. Covestor Ltd grew its stake in shares of AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of AXIS Capital in the 1st quarter worth approximately $201,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.