AXIS Capital (NYSE:AXS) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities research analysts have also weighed in on AXS. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $75.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. UBS Group raised their target price on shares of AXIS Capital from $77.00 to $80.00 and gave the stock a buy rating in a report on Monday, February 5th. Finally, Wells Fargo & Company cut their price target on shares of AXIS Capital from $59.00 to $57.00 and set an underweight rating on the stock in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, AXIS Capital has a consensus rating of Hold and an average target price of $67.33.

AXIS Capital Price Performance

Shares of NYSE AXS traded up $0.21 during midday trading on Friday, hitting $65.39. 682,791 shares of the company’s stock were exchanged, compared to its average volume of 646,238. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.38. AXIS Capital has a 12-month low of $51.61 and a 12-month high of $66.74. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.28 and a beta of 0.80. The business’s fifty day moving average price is $62.84 and its two-hundred day moving average price is $58.73.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.17. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. AXIS Capital’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.33 EPS. As a group, research analysts forecast that AXIS Capital will post 10.17 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Monday, March 4th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.76 annualized dividend and a yield of 2.69%. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

Insiders Place Their Bets

In other news, Director Stanley A. Galanski purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $58.45 per share, for a total transaction of $409,150.00. Following the completion of the transaction, the director now directly owns 9,763 shares of the company’s stock, valued at approximately $570,647.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in AXIS Capital during the 4th quarter valued at approximately $52,845,000. AQR Capital Management LLC boosted its position in shares of AXIS Capital by 89.5% during the third quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider’s stock valued at $69,381,000 after buying an additional 581,409 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in AXIS Capital by 185.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider’s stock valued at $27,051,000 after acquiring an additional 317,169 shares during the period. Vanguard Group Inc. grew its stake in shares of AXIS Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock worth $486,587,000 after acquiring an additional 207,233 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in AXIS Capital by 26.0% in the fourth quarter. Wasatch Advisors LP now owns 989,689 shares of the insurance provider’s stock worth $54,799,000 after purchasing an additional 204,389 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Company Profile

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.