UBS Group Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its target price lifted by UBS Group from $92.00 to $98.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research analysts have also commented on the stock. 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. Wells Fargo & Company upped their target price on AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Roth Mkm increased their target price on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen initiated coverage on AXIS Capital in a research note on Friday, October 4th. They issued a “buy” rating and a $118.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on AXIS Capital from $86.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.71.

AXIS Capital Stock Performance

Shares of NYSE AXS opened at $79.38 on Monday. 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 company has a market capitalization of $6.64 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.26 and a beta of 0.90. AXIS Capital has a 12 month low of $53.14 and a 12 month high of $83.19. The stock has a 50 day moving average of $79.48 and a 200-day moving average of $73.82.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the business posted $2.34 earnings per share. As a group, equities research analysts predict that AXIS Capital will post 10.98 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a $0.44 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.76 annualized dividend and a yield of 2.22%. AXIS Capital’s dividend payout ratio is presently 24.41%.

Institutional Trading of AXIS Capital

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares during the period. GAMMA Investing LLC raised its position in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after buying an additional 226 shares in the last quarter. Covestor Ltd lifted its holdings in shares of AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 148 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 985 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.