Axis Capital (NYSE:AXS) Price Target Raised to $130.00

Axis Capital (NYSE:AXS) had its price target increased by Keefe, Bruyette & Woods from $121.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other equities analysts also recently commented on AXS. UBS Group upped their price target on shares of Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada started coverage on shares of Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 price target for the company. The Goldman Sachs Group started coverage on Axis Capital in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price target for the company. Bank of America reaffirmed a “neutral” rating and set a $115.00 price target (down previously from $116.00) on shares of Axis Capital in a research report on Tuesday. Finally, Wells Fargo & Company set a $123.00 price target on shares of Axis Capital and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.90.

Axis Capital Stock Performance

NYSE:AXS opened at $103.80 on Tuesday. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.03 and a beta of 0.65. Axis Capital has a 1 year low of $83.90 and a 1 year high of $110.34. The stock’s 50 day simple moving average is $102.66 and its two-hundred day simple moving average is $98.66. 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 (NYSE:AXS) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. Axis Capital’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. As a group, equities analysts anticipate that Axis Capital will post 11.19 earnings per share for the current fiscal 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 paid 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 1.7%. Axis Capital’s payout ratio is presently 14.55%.

Hedge Funds Weigh In On Axis Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Axis Capital in the second quarter valued at approximately $100,683,000. Freestone Grove Partners LP acquired a new position in shares of Axis Capital during the third quarter worth about $56,705,000. Altrinsic Global Advisors LLC raised its holdings in Axis Capital by 47.7% during the second quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock worth $188,662,000 after purchasing an additional 586,576 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Axis Capital in the 2nd quarter valued at approximately $55,025,000. Finally, Allianz Asset Management GmbH boosted its holdings in Axis Capital by 174.6% during the second quarter. Allianz Asset Management GmbH now owns 744,842 shares of the insurance provider’s stock worth $77,329,000 after buying an additional 473,608 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.