Keefe, Bruyette & Woods Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its target price upped by Keefe, Bruyette & Woods from $115.00 to $118.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

AXS has been the subject of several other reports. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. TD Cowen upped their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AXIS Capital has a consensus rating of “Moderate Buy” and a consensus price target of $100.25.

AXIS Capital Stock Performance

NYSE:AXS opened at $91.65 on Thursday. The firm’s 50-day moving average is $91.01 and its 200-day moving average is $86.29. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 3.96 and a beta of 0.91. 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 has a 52-week low of $60.45 and a 52-week high of $98.11.

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

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital 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 completion of the transaction, the director now owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Trading of AXIS Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC bought a new stake in AXIS Capital during the 3rd quarter worth about $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AXIS Capital during the fourth quarter worth approximately $53,000. Versant Capital Management Inc increased its holdings in shares of AXIS Capital by 24.0% in the fourth 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in AXIS Capital in the 4th quarter worth approximately $60,000. 93.44% of the stock is currently 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.