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

Shares of Axis Capital Holdings Limited (NYSE:AXS) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $121.8889.

AXS has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $110.00 price target on shares of Axis Capital in a report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Axis Capital from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Axis Capital in a research report on Monday, December 29th. Mizuho initiated coverage on Axis Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $133.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th.

Axis Capital Trading Up 2.8%

Shares of AXS stock opened at $102.74 on Friday. Axis Capital has a fifty-two week low of $84.81 and a fifty-two week high of $110.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day simple moving average of $103.21 and a two-hundred day simple moving average of $98.57. The company has a market cap of $7.92 billion, a P/E ratio of 8.49, a PEG ratio of 1.00 and a beta of 0.65.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 EPS. Research analysts forecast that Axis Capital will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, December 31st. Axis Capital’s payout ratio is 14.55%.

Hedge Funds Weigh In On Axis Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in shares of Axis Capital in the third quarter worth approximately $29,000. Smithfield Trust Co boosted its position in shares of Axis Capital by 94.0% during the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after buying an additional 142 shares during the last quarter. AlphaCore Capital LLC bought a new stake in Axis Capital during the second quarter worth $37,000. Elevation Point Wealth Partners LLC purchased a new stake in Axis Capital in the 2nd quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Axis Capital in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.