AXIS Capital (NYSE:AXS) Price Target Raised to $98.00

AXIS Capital (NYSE:AXS) had its price objective boosted by UBS Group from $92.00 to $98.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Roth Mkm raised their target price on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price objective on shares of AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen began coverage on shares of AXIS Capital in a report on Friday, October 4th. They issued a “buy” rating and a $118.00 price objective for the company. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.86.

AXIS Capital Stock Performance

Shares of AXS opened at $83.54 on Monday. The firm has a fifty day moving average of $79.63 and a 200-day moving average of $74.01. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. 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 has a 1 year low of $53.14 and a 1 year high of $84.84.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business posted $2.34 EPS. As a group, equities analysts anticipate that AXIS Capital will post 10.98 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXS. Commonwealth Equity Services LLC acquired a new stake in shares of AXIS Capital during the first quarter worth $669,000. Janney Montgomery Scott LLC acquired a new stake in AXIS Capital during the 1st quarter worth about $683,000. Daiwa Securities Group Inc. lifted its stake in AXIS Capital by 600.0% during the first quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the insurance provider’s stock valued at $455,000 after buying an additional 6,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of AXIS Capital in the first quarter worth about $328,000. Finally, Sciencast Management LP purchased a new position in shares of AXIS Capital in the first quarter worth approximately $572,000. 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.