AXIS Capital (NYSE:AXS) Reaches New 52-Week High – Time to Buy?

AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $87.24 and last traded at $87.17, with a volume of 1513 shares. The stock had previously closed at $86.56.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AXS. Keefe, Bruyette & Woods increased their price objective on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Roth Mkm upped their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.86.

AXIS Capital Price Performance

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 company’s 50 day moving average price is $81.25 and its 200-day moving average price is $75.66. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. On average, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.89 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is 24.41%.

Institutional Trading of AXIS Capital

Several institutional investors and hedge funds have recently bought and sold shares of AXS. Toronto Dominion Bank acquired a new stake in shares of AXIS Capital during the first quarter valued at approximately $5,137,000. Entropy Technologies LP purchased a new position in AXIS Capital during the 3rd quarter worth approximately $507,000. Jennison Associates LLC raised its stake in AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after purchasing an additional 318,784 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AXIS Capital by 71.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,265 shares of the insurance provider’s stock valued at $1,374,000 after purchasing an additional 7,205 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of AXIS Capital by 84.4% in the second quarter. Ensign Peak Advisors Inc now owns 40,404 shares of the insurance provider’s stock worth $2,855,000 after buying an additional 18,490 shares during the period. Institutional investors and hedge funds 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.