By otakuyassine3@gmail.com 
AXIS Capital (NYSE:AXS – Free Report) had its price target lifted by UBS Group from $105.00 to $115.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.
A number of other brokerages also recently weighed in on AXS. Keefe, Bruyette & Woods dropped their target price on AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com cut AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. BMO Capital Markets assumed 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. Wells Fargo & Company lowered their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, JMP Securities restated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.75.
Get Our Latest Report on AXIS Capital
AXIS Capital Price Performance
NYSE AXS opened at $92.86 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a 1 year low of $60.45 and a 1 year high of $101.42. The company has a market cap of $7.30 billion, a PE ratio of 7.52, a PEG ratio of 3.96 and a beta of 0.67. The stock’s 50-day moving average price is $93.96 and its two-hundred day moving average price is $89.07.
AXIS Capital (NYSE:AXS – Get Free Report) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, analysts predict that AXIS Capital will post 11.19 EPS for the current year.
AXIS Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is currently 14.25%.
Insider Transactions at AXIS Capital
In other AXIS Capital 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 transaction, the director now directly owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. The trade was a 47.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On AXIS Capital
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted 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 purchasing an additional 130 shares during the period. Parkside Financial Bank & Trust raised its position in shares of AXIS Capital by 7.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock valued at $171,000 after buying an additional 134 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of AXIS Capital by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock valued at $248,000 after buying an additional 137 shares during the period. Nomura Asset Management Co. Ltd. grew its position in AXIS Capital by 21.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider’s stock worth $80,000 after buying an additional 160 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in AXIS Capital by 0.4% during the fourth quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider’s stock valued at $3,626,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.
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.
Further Reading
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