AXIS Capital (NYSE:AXS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a report issued on Tuesday.

AXS has been the subject of a number of other reports. TD Cowen upped their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets started coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Finally, UBS Group increased their price target on AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus target price of $99.88.

AXIS Capital Trading Down 2.1 %

Shares of NYSE AXS opened at $92.72 on Tuesday. The business has a 50 day simple moving average of $90.73 and a 200 day simple moving average of $85.72. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $98.11. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 3.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, research analysts predict that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Insider Buying and Selling

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Institutional Trading of AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of AXS. Raymond James Financial Inc. purchased a new position in AXIS Capital during the fourth quarter worth about $88,175,000. Norges Bank bought a new position in AXIS Capital during the 4th quarter worth approximately $88,147,000. FIL Ltd bought a new stake in AXIS Capital during the 4th quarter valued at $43,893,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of AXIS Capital during the fourth quarter worth about $37,775,000. Finally, Swedbank AB purchased a new stake in AXIS Capital in the 4th quarter worth approximately $31,118,000. 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.