Axis Capital’s (AXS) “Neutral” Rating Reiterated at Bank of America

Bank of America reiterated their neutral rating on shares of Axis Capital (NYSE:AXS) in a research report report published on Tuesday, MarketBeat reports. The firm currently has a $115.00 target price on the insurance provider’s stock, down from their previous target price of $116.00.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Axis Capital in a research note on Tuesday, October 14th. They set a “neutral” rating and a $104.00 price objective on the stock. Mizuho started coverage on Axis Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $133.00 price target on the stock. Compass Point set a $121.00 price objective on Axis Capital in a report on Monday, November 24th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Axis Capital in a research report on Monday, December 29th. Finally, UBS Group increased their target price on Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.90.

Axis Capital Stock Up 0.6%

Shares of NYSE:AXS opened at $103.80 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.00 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.03 and a beta of 0.65. Axis Capital has a 52-week low of $83.90 and a 52-week high of $110.34. The stock’s fifty day simple moving average is $102.66 and its 200-day simple moving average is $98.66.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. The firm had revenue of $1.67 billion during 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 firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. As a group, equities research analysts forecast that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.44 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital’s dividend payout ratio (DPR) is 14.55%.

Hedge Funds Weigh In On Axis Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smithfield Trust Co raised its stake 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 purchasing an additional 142 shares during the period. Root Financial Partners LLC acquired a new stake in Axis Capital during the 3rd quarter valued at $29,000. AlphaCore Capital LLC acquired a new stake in Axis Capital during the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new stake in Axis Capital during the 2nd quarter worth $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Axis Capital in the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Axis Capital

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.