AXIS Capital (NYSE:AXS) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of AXIS Capital (NYSE:AXS) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other equities analysts have also recently issued reports on AXS. Keefe, Bruyette & Woods boosted their price target on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets started coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, UBS Group boosted 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, AXIS Capital presently has an average rating of “Moderate Buy” and a consensus target price of $99.88.

AXIS Capital Stock Up 2.5 %

AXS stock opened at $94.12 on Monday. AXIS Capital has a fifty-two week low of $60.06 and a fifty-two week high of $94.94. The company’s 50 day moving average price is $89.90 and its 200 day moving average price is $84.74. 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 firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 4.00 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, equities research analysts anticipate that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insider Activity

In related 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 value of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in AXIS Capital during the third quarter worth approximately $40,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of AXIS Capital in the fourth quarter valued at about $53,000. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in AXIS Capital during the 4th quarter valued at $60,000. 93.44% of the stock is currently owned by hedge funds and other 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.