AXIS Capital Holdings Limited (NYSE:AXS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

AXIS Capital Holdings Limited (NYSE:AXS) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $98.71.

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company raised AXIS Capital from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $78.00 to $89.00 in a report on Wednesday, December 11th. Jefferies Financial Group lifted their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. 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, Keefe, Bruyette & Woods increased their price target on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th.

AXIS Capital Stock Down 0.2 %

Shares of NYSE:AXS opened at $88.73 on Monday. AXIS Capital has a 1 year low of $53.88 and a 1 year high of $94.89. The stock has a 50-day simple moving average of $87.90 and a 200-day simple moving average of $80.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $7.42 billion, a P/E ratio of 12.31, a PEG ratio of 0.31 and a beta of 0.95.

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 net margin of 10.82% and a return on equity of 19.24%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $2.34 EPS. Equities analysts forecast that AXIS Capital will post 10.83 earnings per share for the current year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.98%. AXIS Capital’s dividend payout ratio (DPR) is 24.41%.

Institutional Trading of AXIS Capital

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in AXIS Capital by 8,717.0% in the second quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider’s stock worth $96,172,000 after acquiring an additional 1,345,811 shares in the last quarter. Jennison Associates LLC grew its position in AXIS Capital by 24.4% in the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after acquiring an additional 318,784 shares during the period. Millennium Management LLC grew its stake in AXIS Capital by 1,644.8% during the second quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock worth $17,009,000 after buying an additional 226,956 shares during the last quarter. AQR Capital Management LLC lifted its position in AXIS Capital by 9.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock worth $182,538,000 after buying an additional 213,559 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of AXIS Capital by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock worth $100,144,000 after acquiring an additional 157,110 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.