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 released on Monday morning.

Other equities analysts have also issued research reports about the company. TD Cowen increased their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. UBS Group increased their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods increased their target price on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and a consensus target price of $99.88.

AXIS Capital Stock Performance

AXS opened at $91.83 on Monday. AXIS Capital has a 12-month low of $59.53 and a 12-month high of $94.89. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 4.01 and a beta of 0.95. The business has a 50 day moving average of $90.01 and a 200-day moving average of $83.48. 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 (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, equities research analysts expect that AXIS Capital will post 11.36 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s dividend payout ratio is presently 14.25%.

Insider Activity at AXIS Capital

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Independent Advisor Alliance raised its position in shares of AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after acquiring an additional 125 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of AXIS Capital by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after buying an additional 127 shares during the last quarter. Versant Capital Management Inc lifted its stake in AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in AXIS Capital by 7.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock valued at $171,000 after purchasing an additional 134 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in AXIS Capital by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 137 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.