AXIS Capital (NYSE:AXS) Price Target Raised to $96.00 at Bank of America

AXIS Capital (NYSE:AXS) had its price objective lifted by equities researchers at Bank of America from $81.00 to $96.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective would indicate a potential upside of 19.11% from the company’s previous close.

Several other brokerages have also recently weighed in on AXS. Roth Mkm boosted their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price target on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group lifted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group increased their price objective on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and an average price target of $92.86.

AXIS Capital Stock Up 0.8 %

AXS stock opened at $80.60 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $77.37 and a two-hundred day moving average of $71.78. AXIS Capital has a 12 month low of $52.90 and a 12 month high of $82.33. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.27 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 earnings per share. As a group, analysts forecast that AXIS Capital will post 10.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AXS. Versant Capital Management Inc grew its stake in shares of AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 226 shares in the last quarter. Covestor Ltd increased its stake in AXIS Capital by 45.9% during the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Finally, Argent Trust Co acquired a new stake in shares of AXIS Capital during the second quarter worth about $205,000. 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.