AXIS Capital Holdings Limited (NYSE:AXS) Receives $80.50 Average Price Target from Brokerages

AXIS Capital Holdings Limited (NYSE:AXS) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $85.86.

AXS has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. UBS Group upped their price target on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Roth Mkm lifted their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen began coverage on shares of AXIS Capital in a report on Friday. They set a “buy” rating and a $118.00 target price on the stock.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted its stake in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of AXIS Capital during the second quarter worth approximately $1,653,000. Truist Financial Corp grew its holdings in AXIS Capital by 19.9% in the 2nd quarter. Truist Financial Corp now owns 9,773 shares of the insurance provider’s stock worth $690,000 after buying an additional 1,620 shares in the last quarter. Algert Global LLC increased its position in AXIS Capital by 9.9% in the 2nd quarter. Algert Global LLC now owns 77,318 shares of the insurance provider’s stock valued at $5,463,000 after acquiring an additional 6,988 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in AXIS Capital by 533.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 32,965 shares of the insurance provider’s stock valued at $2,329,000 after acquiring an additional 27,765 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $82.16 on Friday. The business has a 50 day moving average price of $76.81 and a two-hundred day moving average price of $71.20. AXIS Capital has a fifty-two week low of $52.90 and a fifty-two week high of $82.33. The firm has a market cap of $6.96 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts expect that AXIS Capital will post 10.71 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 26.91%.

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.