AXIS Capital (NYSE:AXS) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of AXIS Capital (NYSE:AXS) from a buy rating to a hold rating in a report released on Monday morning.

Other research analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen lifted their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Trading Down 1.1 %

AXIS Capital stock opened at $93.94 on Monday. The company has a 50 day moving average price of $90.06 and a 200 day moving average price of $84.95. AXIS Capital has a 52 week low of $60.06 and a 52 week high of $95.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 7.61, a P/E/G ratio of 3.96 and a beta of 0.95.

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

AXIS Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.87%. AXIS Capital’s dividend payout ratio is 14.25%.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 period. Highland Capital Management LLC increased its stake in AXIS Capital by 11.6% in the third quarter. Highland Capital Management LLC now owns 3,290 shares of the insurance provider’s stock valued at $262,000 after acquiring an additional 341 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in AXIS Capital by 71.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,265 shares of the insurance provider’s stock valued at $1,374,000 after acquiring an additional 7,205 shares during the period. DekaBank Deutsche Girozentrale increased its stake in AXIS Capital by 32.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,887 shares of the insurance provider’s stock valued at $2,875,000 after acquiring an additional 9,380 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in AXIS Capital by 35.3% in the third quarter. Pallas Capital Advisors LLC now owns 11,203 shares of the insurance provider’s stock valued at $909,000 after acquiring an additional 2,922 shares during the period. 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.