Axis Capital Holdings Limited (NYSE:AXS) Receives $124.00 Average Price Target from Analysts

Axis Capital Holdings Limited (NYSE:AXS) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $124.00.

A number of research analysts recently issued reports on AXS shares. Jefferies Financial Group reiterated a “buy” rating and issued a $122.00 target price on shares of Axis Capital in a research note on Friday, January 30th. Royal Bank Of Canada upped their price target on shares of Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Wells Fargo & Company lowered their price target on Axis Capital from $124.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $110.00 price objective on shares of Axis Capital in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Axis Capital from $121.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th.

Axis Capital Stock Down 1.4%

Shares of Axis Capital stock opened at $99.86 on Friday. Axis Capital has a 12-month low of $84.81 and a 12-month high of $110.34. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $103.17 and a two-hundred day moving average price of $100.31. The stock has a market capitalization of $7.39 billion, a P/E ratio of 8.06, a PEG ratio of 2.01 and a beta of 0.61.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.28. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.38 earnings per share. Equities analysts expect that Axis Capital will post 11.19 earnings per share for the current year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital’s payout ratio is currently 14.21%.

Institutional Investors Weigh In On Axis Capital

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its position in Axis Capital by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 4,592,270 shares of the insurance provider’s stock worth $491,786,000 after acquiring an additional 1,083,579 shares during the period. Norges Bank bought a new stake in Axis Capital in the 2nd quarter valued at $100,683,000. Freestone Grove Partners LP bought a new stake in Axis Capital in the 3rd quarter valued at $56,705,000. Altrinsic Global Advisors LLC grew its position in Axis Capital by 47.7% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock worth $188,662,000 after purchasing an additional 586,576 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Axis Capital during the 2nd quarter worth about $55,025,000. 93.44% of the stock is 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.