AXIS Capital (NYSE:AXS) Price Target Raised to $110.00 at Keefe, Bruyette & Woods

AXIS Capital (NYSE:AXS) had its price objective raised by Keefe, Bruyette & Woods from $108.00 to $110.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also weighed in on the stock. Bank of America upped their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen boosted their target price on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group raised their price target on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AXIS Capital has a consensus rating of “Moderate Buy” and an average target price of $100.71.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $85.59 on Friday. AXIS Capital has a 1-year low of $53.88 and a 1-year high of $94.89. The company has a market cap of $7.16 billion, a PE ratio of 11.87, a P/E/G ratio of 0.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a fifty day moving average price of $88.52 and a 200 day moving average price of $80.41.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $2.34 EPS. Sell-side analysts forecast that AXIS Capital will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, December 31st. AXIS Capital’s payout ratio is 24.41%.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the 3rd quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. grew its position in AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc increased its stake in AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of AXIS Capital by 424.6% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 985 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of AXIS Capital in the 3rd quarter valued at about $99,000. 93.44% 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 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.