Axis Capital (NYSE:AXS) Hits New 1-Year High on Analyst Upgrade

Axis Capital Holdings Limited (NYSE:AXS) shares reached a new 52-week high on Tuesday after Mizuho upgraded the stock to a strong-buy rating. The stock traded as high as $107.83 and last traded at $107.54, with a volume of 17369 shares. The stock had previously closed at $106.46.

Other equities research analysts also recently issued reports about the company. UBS Group lifted their target price on Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axis Capital in a research report on Monday, December 8th. Wells Fargo & Company set a $123.00 price objective on Axis Capital and gave the company an “overweight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Axis Capital in a research report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 target price on the stock. Finally, Compass Point set a $121.00 price target on shares of Axis Capital in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Axis Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

Hedge Funds Weigh In On Axis Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its position in Axis Capital by 28.7% during the third quarter. Allworth Financial LP now owns 748 shares of the insurance provider’s stock valued at $72,000 after buying an additional 167 shares during the period. IFP Advisors Inc grew its stake in Axis Capital by 57.7% in the 3rd quarter. IFP Advisors Inc now owns 2,061 shares of the insurance provider’s stock valued at $200,000 after buying an additional 754 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Axis Capital by 75.5% in the third quarter. Swiss Life Asset Management Ltd now owns 3,563 shares of the insurance provider’s stock worth $341,000 after acquiring an additional 1,533 shares during the period. Danske Bank A S purchased a new position in shares of Axis Capital in the third quarter valued at $8,941,000. Finally, Woodline Partners LP raised its stake in shares of Axis Capital by 196.5% during the 3rd quarter. Woodline Partners LP now owns 484,619 shares of the insurance provider’s stock valued at $46,426,000 after purchasing an additional 321,145 shares during the period. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Price Performance

The business has a fifty day moving average of $98.23 and a 200-day moving average of $98.21. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.25 billion, a PE ratio of 8.85, a PEG ratio of 1.04 and a beta of 0.65.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current year.

Axis Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is presently 14.55%.

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.