AXIS Capital (NYSE:AXS) Hits New 52-Week High on Analyst Upgrade

AXIS Capital Holdings Limited (NYSE:AXS)’s share price hit a new 52-week high during trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $118.00 to $120.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. AXIS Capital traded as high as $101.42 and last traded at $99.20, with a volume of 800856 shares traded. The stock had previously closed at $99.64.

Other equities analysts also recently issued reports about the stock. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Wells Fargo & Company reduced 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 research report on Tuesday, January 14th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets assumed coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

Insider Buying and Selling at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction on 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 completion of the transaction, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of AXIS Capital by 60.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,658 shares of the insurance provider’s stock valued at $2,451,000 after buying an additional 10,393 shares during the period. Jefferies Financial Group Inc. grew its stake in AXIS Capital by 197.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock valued at $2,175,000 after acquiring an additional 16,298 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in AXIS Capital in the 4th quarter worth approximately $610,000. Forum Financial Management LP purchased a new stake in AXIS Capital in the 4th quarter worth approximately $254,000. Finally, Vise Technologies Inc. bought a new position in AXIS Capital in the 4th quarter valued at $224,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

The stock has a market capitalization of $8.11 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 3.96 and a beta of 0.91. The business’s 50-day moving average price is $93.20 and its 200 day moving average price is $88.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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%. Research analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

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 given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

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.