AXIS Capital (NYSE:AXS) Given New $78.00 Price Target at Wells Fargo & Company

AXIS Capital (NYSE:AXS) had its price target lifted by Wells Fargo & Company from $74.00 to $78.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on AXS. TD Cowen assumed coverage on shares of AXIS Capital in a research report on Friday, October 4th. They issued a buy rating and a $118.00 price objective for the company. UBS Group boosted their price target on AXIS Capital from $82.00 to $85.00 and gave the company a buy rating in a report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on AXIS Capital from $88.00 to $95.00 and gave the stock a buy rating in a report on Wednesday. Bank of America upped their target price on AXIS Capital from $74.00 to $78.00 and gave the company a buy rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AXIS Capital currently has an average rating of Moderate Buy and an average price target of $92.86.

AXIS Capital Price Performance

Shares of AXS traded up $1.29 on Thursday, reaching $81.22. The stock had a trading volume of 45,147 shares, compared to its average volume of 581,990. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.84 billion, a PE ratio of 11.00, a PEG ratio of 0.27 and a beta of 0.89. AXIS Capital has a twelve month low of $52.90 and a twelve month high of $82.33. The firm has a 50-day moving average of $77.23 and a 200 day moving average of $71.66.

AXIS Capital (NYSE:AXS) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. AXIS Capital’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts expect that AXIS Capital will post 10.72 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 30th. AXIS Capital’s payout ratio is currently 24.21%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in shares of AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 165 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares in the last quarter. Covestor Ltd boosted its position in shares of AXIS Capital by 45.9% in the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after buying an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of AXIS Capital during the 1st quarter valued at about $201,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.