Mizuho Upgrades Axis Capital (NYSE:AXS) to Strong-Buy

Axis Capital (NYSE:AXS) was upgraded by investment analysts at Mizuho to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on AXS. Compass Point set a $121.00 target price on Axis Capital in a report on Monday, November 24th. UBS Group lifted their price target on shares of Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. The Goldman Sachs Group began coverage on shares of Axis Capital in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price target on the stock. Wells Fargo & Company set a $123.00 price objective on shares of Axis Capital and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada assumed coverage on shares of Axis Capital in a research note on Monday, November 24th. They issued an “outperform” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

Axis Capital Price Performance

NYSE:AXS opened at $107.14 on Monday. 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 company has a 50-day moving average of $98.03 and a 200-day moving average of $98.15. Axis Capital has a 52 week low of $83.90 and a 52 week high of $108.12. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.03 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 the consensus estimate of $2.72 by $0.53. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, equities research analysts anticipate that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Axis Capital during the third quarter worth $29,000. Smithfield Trust Co raised its holdings in Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Axis Capital during the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC bought a new position in shares of Axis Capital in the 2nd quarter valued at about $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Axis Capital during the 3rd quarter worth approximately $43,000. 93.44% of the stock is currently owned by institutional investors.

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.