AXIS Capital (NYSE:AXS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

AXIS Capital (NYSE:AXS) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $118.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 20.51% from the stock’s previous close.

Other analysts have also issued reports about the company. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target for the company. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.50.

AXIS Capital Trading Down 0.1 %

Shares of NYSE AXS opened at $99.57 on Friday. AXIS Capital has a 1-year low of $60.45 and a 1-year high of $101.42. The company has a 50-day moving average of $93.00 and a two-hundred day moving average of $87.82. The company has a market cap of $8.04 billion, a PE ratio of 8.06, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27.

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

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in AXIS Capital in the 3rd quarter valued at $235,000. Cerity Partners LLC lifted its holdings in shares of AXIS Capital by 61.5% in the third quarter. Cerity Partners LLC now owns 52,236 shares of the insurance provider’s stock valued at $4,158,000 after purchasing an additional 19,892 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of AXIS Capital by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after buying an additional 170 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of AXIS Capital by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 31,144 shares of the insurance provider’s stock worth $2,479,000 after buying an additional 6,944 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in AXIS Capital by 92.9% in the 3rd quarter. Bridgewater Associates LP now owns 80,123 shares of the insurance provider’s stock valued at $6,379,000 after buying an additional 38,577 shares during the last quarter. Institutional investors 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.