Axis Capital Holdings Limited (NYSE:AXS) Receives $121.23 Consensus Target Price from Analysts

Axis Capital Holdings Limited (NYSE:AXS) has received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $121.2308.

AXS has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Axis Capital from $134.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating and set a $130.00 price objective on shares of Axis Capital in a report on Tuesday, August 25th. Weiss Ratings upgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. UBS Group reduced their target price on Axis Capital from $131.00 to $126.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Zacks Research lowered Axis Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th.

Axis Capital Price Performance

Shares of AXS stock opened at $101.03 on Friday. The stock’s fifty day simple moving average is $106.65 and its 200 day simple moving average is $102.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 4.42 and a beta of 0.49. Axis Capital has a one year low of $88.07 and a one year high of $119.99.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.41). Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Axis Capital will post 12.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in Axis Capital by 9,953.8% during the 2nd quarter. California State Teachers Retirement System now owns 9,297,106 shares of the insurance provider’s stock worth $998,881,000 after acquiring an additional 9,204,632 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Axis Capital by 30.9% in 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 last quarter. Norges Bank bought a new position in shares of Axis Capital in the fourth quarter worth about $103,001,000. Freestone Grove Partners LP acquired a new position in shares of Axis Capital during the third quarter worth approximately $56,705,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Axis Capital by 147.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 745,591 shares of the insurance provider’s stock valued at $79,845,000 after purchasing an additional 443,761 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

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.