AXIS Capital (NYSE:AXS) Earns Market Perform Rating from Analysts at BMO Capital Markets

Equities researchers at BMO Capital Markets initiated coverage on shares of AXIS Capital (NYSE:AXS) in a report issued on Monday, Marketbeat reports. The brokerage set a “market perform” rating and a $93.00 price target on the insurance provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 8.66% from the stock’s current price.

Several other equities analysts also recently commented on AXS. UBS Group upped their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America upped their price target on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on shares of AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company upgraded shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $78.00 to $89.00 in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group increased their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

AXIS Capital Trading Down 2.6 %

AXS stock opened at $85.59 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company’s 50-day simple moving average is $88.65 and its 200 day simple moving average is $80.57. AXIS Capital has a 52 week low of $53.88 and a 52 week high of $94.89. The company has a market capitalization of $7.16 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.31 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released 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 net margin of 10.82% and a return on equity of 19.24%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, sell-side analysts anticipate that AXIS Capital will post 10.83 earnings per share for the current year.

Institutional Investors Weigh In On AXIS Capital

Hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in AXIS Capital by 32.6% in the 2nd 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 during the last quarter. Versant Capital Management Inc raised its holdings in AXIS Capital by 24.0% in the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 130 shares during the last quarter. Blue Trust Inc. raised its holdings in AXIS Capital by 424.6% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after buying an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in AXIS Capital in the 3rd quarter valued at approximately $99,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.