AXIS Capital (NYSE:AXS) Given New $85.00 Price Target at Wells Fargo & Company

AXIS Capital (NYSE:AXS) had its price target lowered by Wells Fargo & Company from $89.00 to $85.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts also recently weighed in on the company. Bank of America lifted their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods upped their price target on shares of AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, TD Cowen raised their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.25.

AXIS Capital Stock Performance

Shares of AXS opened at $87.94 on Tuesday. The business has a fifty day moving average of $88.94 and a 200 day moving average of $80.86. The firm has a market capitalization of $7.36 billion, a P/E ratio of 12.20, a PEG ratio of 0.31 and a beta of 0.95. AXIS Capital has a one year low of $53.88 and a one year high of $94.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business posted $2.34 earnings per share. As a group, sell-side analysts anticipate that AXIS Capital will post 10.83 EPS for the current year.

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, December 31st. AXIS Capital’s payout ratio is currently 24.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC bought a new position in AXIS Capital during the third quarter valued at approximately $40,000. 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 valued at $43,000 after acquiring an additional 148 shares during the last quarter. Versant Capital Management Inc grew 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. Blue Trust Inc. increased its position in AXIS Capital by 424.6% in the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in AXIS Capital during the third quarter valued at $99,000. Hedge funds and other institutional investors 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.