Axis Capital Holdings Limited (NYSE:AXS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Axis Capital Holdings Limited (NYSE:AXS) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $115.2857.

Several research firms have weighed in on AXS. The Goldman Sachs Group started coverage on Axis Capital in a research report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 price objective on the stock. Wall Street Zen lowered shares of Axis Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Axis Capital from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Wells Fargo & Company set a $123.00 price objective on shares of Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, UBS Group raised their price objective on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $98.67, for a total transaction of $345,345.00. Following the sale, the director owned 47,295 shares of the company’s stock, valued at approximately $4,666,597.65. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Draper sold 4,305 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the transaction, the insider directly owned 16,269 shares of the company’s stock, valued at approximately $1,587,366.33. This represents a 20.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 12,205 shares of company stock worth $1,188,048. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in shares of Axis Capital by 21.6% during the second quarter. SBI Securities Co. Ltd. now owns 658 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 117 shares during the period. Benedict Financial Advisors Inc. grew its position in Axis Capital by 0.5% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 26,541 shares of the insurance provider’s stock valued at $2,755,000 after buying an additional 120 shares in the last quarter. Pitcairn Co. grew its position in Axis Capital by 1.5% in the 2nd quarter. Pitcairn Co. now owns 8,358 shares of the insurance provider’s stock valued at $868,000 after buying an additional 126 shares in the last quarter. Smithfield Trust Co boosted its position in shares of Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares in the last quarter. Finally, Hancock Whitney Corp boosted its position in shares of Axis Capital by 0.6% during the 1st quarter. Hancock Whitney Corp now owns 25,065 shares of the insurance provider’s stock valued at $2,513,000 after purchasing an additional 145 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Axis Capital Price Performance

Axis Capital stock opened at $93.62 on Friday. Axis Capital has a one year low of $77.21 and a one year high of $107.19. The business has a fifty day moving average price of $95.48 and a 200-day moving average price of $97.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $7.32 billion, a P/E ratio of 7.74, a PEG ratio of 1.06 and a beta of 0.73.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a return on equity of 19.25% and a net margin of 16.08%.The firm had revenue of $184.90 million during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $2.71 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Axis Capital will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.76 annualized dividend and a dividend yield of 1.9%. Axis Capital’s payout ratio is presently 16.92%.

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.