Brokerages Set AXIS Capital Holdings Limited (NYSE:AXS) Price Target at $99.88

AXIS Capital Holdings Limited (NYSE:AXS) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $99.88.

Several research firms recently issued reports on AXS. UBS Group increased their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. TD Cowen upped their price target on AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price objective on the stock.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the transaction, the director now 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 filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its stake in AXIS Capital by 197.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock worth $2,175,000 after buying an additional 16,298 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in AXIS Capital during the 4th quarter worth approximately $610,000. Forum Financial Management LP acquired a new stake in AXIS Capital during the 4th quarter worth approximately $254,000. Vise Technologies Inc. acquired a new stake in AXIS Capital during the 4th quarter worth approximately $224,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in AXIS Capital during the 4th quarter worth approximately $244,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Performance

Shares of AXIS Capital stock opened at $97.50 on Tuesday. AXIS Capital has a 52 week low of $60.06 and a 52 week high of $98.11. The business’s fifty day simple moving average is $90.38 and its 200-day simple moving average is $85.36. The firm has a market cap of $7.88 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 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 analysts forecast that AXIS Capital will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.81%. AXIS Capital’s dividend payout ratio is presently 14.25%.

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.