AXIS Capital (NYSE:AXS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

AXIS Capital (NYSE:AXS) had its target price hoisted by Keefe, Bruyette & Woods from $118.00 to $120.00 in a research note released on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets started coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price target for the company. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

AXIS Capital Stock Down 0.1 %

Shares of NYSE AXS opened at $99.57 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $93.00 and a 200-day moving average of $87.74. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 3.96 and a beta of 0.91. AXIS Capital has a 12 month low of $60.45 and a 12 month high of $101.42.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Sell-side analysts expect that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.77%. AXIS Capital’s payout ratio is currently 14.25%.

Insider Buying and Selling at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares in the company, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in shares of AXIS Capital in the 3rd quarter worth about $235,000. Cerity Partners LLC boosted its position in AXIS Capital by 61.5% during the 3rd quarter. Cerity Partners LLC now owns 52,236 shares of the insurance provider’s stock valued at $4,158,000 after acquiring an additional 19,892 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AXIS Capital by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after acquiring an additional 170 shares during the period. BNP Paribas Financial Markets raised its position in shares of AXIS Capital by 28.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,144 shares of the insurance provider’s stock worth $2,479,000 after acquiring an additional 6,944 shares in the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of AXIS Capital by 92.9% in the 3rd quarter. Bridgewater Associates LP now owns 80,123 shares of the insurance provider’s stock valued at $6,379,000 after purchasing an additional 38,577 shares during the period. Hedge funds and other 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.