Shares of Axis Capital Holdings Limited (NYSE:AXS) have received a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $68.29.
AXS has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Axis Capital from $69.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. TheStreet cut shares of Axis Capital from a “b” rating to a “c+” rating in a report on Tuesday, October 29th. Wells Fargo & Co cut shares of Axis Capital from an “equal weight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Monday, January 6th. Finally, Zacks Investment Research raised shares of Axis Capital from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, February 3rd.
NYSE:AXS traded down $0.66 during mid-day trading on Friday, reaching $63.83. The stock had a trading volume of 367,452 shares, compared to its average volume of 496,536. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.27. Axis Capital has a 1-year low of $54.47 and a 1-year high of $67.51. The stock’s 50 day simple moving average is $61.93 and its two-hundred day simple moving average is $62.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.55 and a quick ratio of 0.55.
Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. Axis Capital had a return on equity of 5.40% and a net margin of 6.25%. The business had revenue of $786.15 million during the quarter, compared to the consensus estimate of $741.78 million. During the same period last year, the firm earned ($1.61) earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Axis Capital will post 5.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.41 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. This is a boost from Axis Capital’s previous quarterly dividend of $0.40. Axis Capital’s dividend payout ratio (DPR) is currently 65.08%.
In other Axis Capital news, Director Henry B. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $64.91, for a total value of $649,100.00. Following the transaction, the director now owns 44,976 shares of the company’s stock, valued at $2,919,392.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC bought a new stake in shares of Axis Capital during the third quarter valued at approximately $31,000. Aigen Investment Management LP bought a new stake in shares of Axis Capital during the fourth quarter valued at approximately $33,000. AdvisorNet Financial Inc raised its holdings in shares of Axis Capital by 142.9% during the third quarter. AdvisorNet Financial Inc now owns 1,020 shares of the insurance provider’s stock valued at $68,000 after buying an additional 600 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Axis Capital by 10.9% during the fourth quarter. Advisor Group Inc. now owns 2,699 shares of the insurance provider’s stock valued at $161,000 after buying an additional 266 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Axis Capital by 1,488.4% during the first quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock valued at $172,000 after buying an additional 2,947 shares during the last quarter. 90.26% of the stock is currently owned by institutional investors.
About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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