AXIS Capital (NYSE:AXS) Sets New 12-Month High at $69.49

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

Wall Street Analysts Forecast Growth

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

AXIS Capital Trading Up 0.6 %

The firm’s 50 day moving average is $63.06 and its 200 day moving average is $58.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $5.86 billion, a PE ratio of 10.52, a PEG ratio of 1.29 and a beta of 0.80.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.17. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. On average, equities analysts anticipate that AXIS Capital Holdings Limited will post 10.17 earnings per share for the current year.

AXIS Capital Announces Dividend

The business 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. This represents a $1.76 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Friday, March 1st. AXIS Capital’s dividend payout ratio is currently 26.91%.

Hedge Funds Weigh In On AXIS Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of AXIS Capital during the 4th quarter valued at $52,845,000. AQR Capital Management LLC lifted its stake in AXIS Capital by 89.5% during the third quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider’s stock worth $69,381,000 after purchasing an additional 581,409 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of AXIS Capital by 185.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider’s stock worth $27,051,000 after purchasing an additional 317,169 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AXIS Capital by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after purchasing an additional 207,233 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of AXIS Capital by 26.0% during the 4th quarter. Wasatch Advisors LP now owns 989,689 shares of the insurance provider’s stock valued at $54,799,000 after buying an additional 204,389 shares in the last quarter. Hedge funds and other institutional investors 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.