Axis Capital (NYSE:AXS) Hits New 1-Year High – What’s Next?

Axis Capital Holdings Limited (NYSE:AXS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $107.83 and last traded at $107.54, with a volume of 17369 shares trading hands. The stock had previously closed at $106.46.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXS. Wells Fargo & Company set a $123.00 price target on Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Axis Capital from $119.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Mizuho assumed coverage on Axis Capital in a report on Monday. They set an “outperform” rating and a $133.00 target price on the stock. Compass Point set a $121.00 target price on Axis Capital in a research report on Monday, November 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Axis Capital in a research report on Monday, December 8th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

Axis Capital Stock Performance

The company has a market cap of $8.32 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a 50-day moving average price of $97.82 and a 200 day moving average price of $98.13.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.53. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.Axis Capital’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 EPS. As a group, analysts anticipate that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.6%. Axis Capital’s dividend payout ratio is currently 14.55%.

Hedge Funds Weigh In On Axis Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Axis Capital by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,954,373 shares of the insurance provider’s stock worth $762,029,000 after purchasing an additional 43,901 shares during the last quarter. AQR Capital Management LLC grew its holdings in Axis Capital by 12.9% during the second quarter. AQR Capital Management LLC now owns 3,716,201 shares of the insurance provider’s stock worth $383,698,000 after purchasing an additional 425,790 shares during the period. Dimensional Fund Advisors LP grew its holdings in Axis Capital by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,318,914 shares of the insurance provider’s stock worth $317,945,000 after purchasing an additional 74,567 shares during the period. Price T Rowe Associates Inc. MD increased its position in Axis Capital by 95.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,852,398 shares of the insurance provider’s stock worth $185,685,000 after buying an additional 903,107 shares during the last quarter. Finally, Altrinsic Global Advisors LLC increased its position 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 buying an additional 586,576 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.