Axis Capital (NYSE:AXS) Upgraded at Mizuho

Mizuho upgraded shares of Axis Capital (NYSE:AXS) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on AXS. Wells Fargo & Company set a $123.00 price objective on Axis Capital and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on Axis Capital in a research report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Axis Capital in a research note on Monday, December 8th. UBS Group lifted their price objective on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Compass Point set a $121.00 target price on shares of Axis Capital in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Axis Capital presently has an average rating of “Moderate Buy” and a consensus price target of $117.67.

Axis Capital Trading Down 0.1%

Shares of AXS opened at $107.08 on Monday. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. Axis Capital has a 1-year low of $83.90 and a 1-year high of $108.12. The company has a 50-day moving average of $98.23 and a 200 day moving average of $98.21.

Axis Capital (NYSE:AXS) last issued its 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 net margin of 16.08% and a return on equity of 18.99%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts expect that Axis Capital will post 11.19 EPS for the current year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.6%. Axis Capital’s payout ratio is presently 14.55%.

Hedge Funds Weigh In On Axis Capital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of Axis Capital by 28.7% during the 3rd quarter. Allworth Financial LP now owns 748 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 167 shares during the last quarter. IFP Advisors Inc increased its position in Axis Capital by 57.7% during the 3rd quarter. IFP Advisors Inc now owns 2,061 shares of the insurance provider’s stock valued at $200,000 after buying an additional 754 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in Axis Capital by 75.5% in the third quarter. Swiss Life Asset Management Ltd now owns 3,563 shares of the insurance provider’s stock valued at $341,000 after buying an additional 1,533 shares during the last quarter. Danske Bank A S purchased a new stake in Axis Capital in the third quarter valued at about $8,941,000. Finally, Woodline Partners LP boosted its holdings in Axis Capital by 196.5% in the third quarter. Woodline Partners LP now owns 484,619 shares of the insurance provider’s stock worth $46,426,000 after acquiring an additional 321,145 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.