AXIS Capital (NYSE:AXS) Sets New 1-Year High at $69.49

Shares of AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.49 and last traded at $69.47, with a volume of 90416 shares. The stock had previously closed at $68.81.

Analyst Ratings Changes

A number of research firms have recently weighed in on AXS. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company cut their target price on AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, UBS Group raised their price objective on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.33.

AXIS Capital Trading Up 0.6 %

The business’s fifty day simple moving average is $63.06 and its two-hundred day simple moving average is $58.88. The stock has a market capitalization of $5.86 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.29 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital (NYSE:AXS) last released its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.17. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business earned $2.33 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that AXIS Capital Holdings Limited will post 10.17 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.54%. AXIS Capital’s payout ratio is 26.91%.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Steph & Co. raised its holdings in shares of AXIS Capital by 2.3% in the 4th quarter. Steph & Co. now owns 10,028 shares of the insurance provider’s stock worth $555,000 after buying an additional 225 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of AXIS Capital by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 237 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of AXIS Capital by 1.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,830 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 241 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of AXIS Capital by 2.9% in the 4th quarter. Raymond James Trust N.A. now owns 8,688 shares of the insurance provider’s stock worth $481,000 after purchasing an additional 246 shares during the last quarter. Finally, Intrust Bank NA increased its position in shares of AXIS Capital by 5.2% during the 4th quarter. Intrust Bank NA now owns 6,000 shares of the insurance provider’s stock worth $332,000 after purchasing an additional 294 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

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.