AXIS Capital (NYSE:AXS) Price Target Raised to $127.00

AXIS Capital (NYSE:AXS) had its price objective lifted by TD Cowen from $118.00 to $127.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

AXS has been the topic of several other research reports. Jefferies Financial Group raised their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America raised their price objective 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. Keefe, Bruyette & Woods boosted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm increased their target price on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group lifted their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.14.

AXIS Capital Price Performance

Shares of AXS opened at $93.04 on Wednesday. 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 fifty-two week low of $53.49 and a fifty-two week high of $94.39. The company has a market cap of $7.78 billion, a P/E ratio of 13.02, a PEG ratio of 0.32 and a beta of 0.90. The firm’s 50 day moving average price is $82.53 and its 200 day moving average price is $76.45.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $2.34 earnings per share. On average, research analysts forecast that AXIS Capital will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is currently 24.41%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares during the period. GAMMA Investing LLC increased its stake in shares of AXIS Capital by 80.4% during 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 in the last quarter. True Wealth Design LLC purchased a new position in AXIS Capital during the third quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 985 shares in the last quarter. 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.