Axis Capital (NYSE:AXS) had its price objective raised by Buckingham Research from $70.00 to $74.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the insurance provider’s stock.
A number of other equities research analysts have also recently issued reports on AXS. MKM Partners boosted their target price on shares of Axis Capital from $70.00 to $75.00 and gave the company a buy rating in a report on Monday. UBS Group raised shares of Axis Capital from a neutral rating to a buy rating and boosted their target price for the company from $59.00 to $67.00 in a report on Thursday, May 23rd. Finally, ValuEngine raised shares of Axis Capital from a hold rating to a buy rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $65.88.
AXS stock traded up $0.32 during midday trading on Thursday, reaching $64.17. 10,986 shares of the company’s stock traded hands, compared to its average volume of 550,420. The company has a 50-day moving average price of $63.43 and a two-hundred day moving average price of $59.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.56. Axis Capital has a 52 week low of $48.27 and a 52 week high of $65.92. The firm has a market capitalization of $5.33 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 1.48 and a beta of 0.31.
Axis Capital (NYSE:AXS) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.34. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts predict that Axis Capital will post 5.06 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in AXS. Raymond James & Associates increased its holdings in shares of Axis Capital by 7.5% in the first quarter. Raymond James & Associates now owns 618,243 shares of the insurance provider’s stock worth $33,867,000 after purchasing an additional 43,015 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Axis Capital by 10.6% in the first quarter. JPMorgan Chase & Co. now owns 689,973 shares of the insurance provider’s stock worth $37,797,000 after purchasing an additional 66,102 shares during the period. Laurion Capital Management LP bought a new position in shares of Axis Capital in the first quarter worth $1,759,000. New York State Common Retirement Fund increased its holdings in shares of Axis Capital by 1.5% in the first quarter. New York State Common Retirement Fund now owns 151,587 shares of the insurance provider’s stock worth $8,304,000 after purchasing an additional 2,300 shares during the period. Finally, Wasatch Advisors Inc. increased its holdings in shares of Axis Capital by 1.1% in the first quarter. Wasatch Advisors Inc. now owns 79,202 shares of the insurance provider’s stock worth $4,339,000 after purchasing an additional 847 shares during the period. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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