Axis Capital Holdings Limited (NYSE:AXS) had its price target reduced by Morgan Stanley from $70.00 to $61.00 in a research note issued to investors on Tuesday. They currently have an equal weight rating on the insurance provider’s stock.

Several other research firms have also recently weighed in on AXS. Bank of America Corporation lowered their price objective on Axis Capital Holdings Limited from $73.00 to $67.00 and set a buy rating on the stock in a research report on Friday, October 13th. TheStreet cut Axis Capital Holdings Limited from a b- rating to a c rating in a research report on Wednesday, October 25th. Zacks Investment Research cut Axis Capital Holdings Limited from a buy rating to a hold rating in a research report on Wednesday, July 12th. ValuEngine cut Axis Capital Holdings Limited from a buy rating to a hold rating in a research report on Thursday, September 7th. Finally, Wells Fargo & Company reissued a sell rating on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $61.45.

Axis Capital Holdings Limited (AXS) opened at $54.37 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.49 and a quick ratio of 0.49.

Axis Capital Holdings Limited (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share for the quarter, missing the consensus estimate of ($5.34) by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $972.10 million. Axis Capital Holdings Limited had a negative return on equity of 2.54% and a negative net margin of 4.55%. During the same quarter in the previous year, the business earned $1.78 EPS. analysts forecast that Axis Capital Holdings Limited will post -2.1 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 9th were issued a dividend of $0.38 per share. This is a positive change from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. This represents a $1.52 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, October 5th. Axis Capital Holdings Limited’s dividend payout ratio is -49.67%.

A number of large investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL boosted its stake in Axis Capital Holdings Limited by 0.3% in the second quarter. Blair William & Co. IL now owns 9,850 shares of the insurance provider’s stock valued at $637,000 after buying an additional 33 shares in the last quarter. M&T Bank Corp boosted its stake in Axis Capital Holdings Limited by 0.3% in the second quarter. M&T Bank Corp now owns 13,137 shares of the insurance provider’s stock valued at $849,000 after buying an additional 42 shares in the last quarter. AMG Funds LLC boosted its stake in Axis Capital Holdings Limited by 0.4% in the second quarter. AMG Funds LLC now owns 21,193 shares of the insurance provider’s stock valued at $1,370,000 after buying an additional 82 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Axis Capital Holdings Limited by 1.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 13,034 shares of the insurance provider’s stock valued at $843,000 after buying an additional 180 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Axis Capital Holdings Limited by 2.9% in the second quarter. Advisory Services Network LLC now owns 8,111 shares of the insurance provider’s stock valued at $524,000 after buying an additional 225 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Analyst Recommendations for Axis Capital Holdings Limited (NYSE:AXS)

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