Wells Fargo & Company Issues Positive Forecast for Axis Capital (NYSE:AXS) Stock Price

Axis Capital (NYSE:AXS) had its price objective boosted by stock analysts at Wells Fargo & Company from $121.00 to $123.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 19.61% from the company’s previous close.

Several other research analysts also recently issued reports on AXS. Keefe, Bruyette & Woods dropped their target price on shares of Axis Capital from $130.00 to $126.00 and set an “outperform” rating on the stock in a research note on Tuesday. Weiss Ratings upgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 price objective on shares of Axis Capital in a research report on Wednesday, January 7th. Mizuho set a $141.00 target price on Axis Capital in a research note on Monday, February 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $120.00 target price on shares of Axis Capital in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.80.

Axis Capital Stock Down 0.1%

Shares of AXS traded down $0.05 during trading hours on Thursday, hitting $102.84. The company had a trading volume of 8,029 shares, compared to its average volume of 616,390. The firm has a fifty day moving average price of $102.55 and a 200-day moving average price of $100.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 2.01 and a beta of 0.63. Axis Capital has a 52-week low of $88.07 and a 52-week high of $110.34.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.97 by $0.28. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. Axis Capital’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.38 EPS. On average, equities research analysts forecast that Axis Capital will post 11.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Axis Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC grew its position in Axis Capital by 5.0% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 100 shares during the period. Truist Financial Corp lifted its holdings in shares of Axis Capital by 2.3% during the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock valued at $492,000 after buying an additional 105 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Axis Capital by 2.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock worth $577,000 after buying an additional 107 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Axis Capital by 0.3% in the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock worth $3,975,000 after buying an additional 122 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in shares of Axis Capital by 1.5% in the second quarter. Pitcairn Co. now owns 8,358 shares of the insurance provider’s stock worth $868,000 after acquiring an additional 126 shares during the period. 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.