Keefe, Bruyette & Woods Increases AXIS Capital (NYSE:AXS) Price Target to $118.00

AXIS Capital (NYSE:AXS) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $115.00 to $118.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 25.99% from the company’s current price.

AXS has been the subject of several other reports. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target 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. TD Cowen lifted their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets assumed 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Price Performance

AXIS Capital stock opened at $93.66 on Thursday. AXIS Capital has a 12-month low of $60.45 and a 12-month high of $98.11. The stock has a market cap of $7.57 billion, a P/E ratio of 7.58, a PEG ratio of 3.96 and a beta of 0.91. The company has a 50-day moving average price of $91.06 and a 200 day moving average price of $86.33. 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 released 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 net margin of 18.16% and a return on equity of 18.89%. Sell-side analysts anticipate that AXIS Capital will post 11.19 earnings per share for the current year.

Insider Activity

In other news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. lifted its stake in AXIS Capital by 197.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock worth $2,175,000 after acquiring an additional 16,298 shares during the last quarter. Mackenzie Financial Corp purchased a new position in AXIS Capital in the fourth quarter worth approximately $610,000. Forum Financial Management LP purchased a new position in AXIS Capital in the fourth quarter worth approximately $254,000. Vise Technologies Inc. purchased a new position in AXIS Capital in the fourth quarter worth approximately $224,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in AXIS Capital in the fourth quarter worth approximately $244,000. Hedge funds and other 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.