Axis Capital (NYSE:AXS) Given New $115.00 Price Target at Bank of America

Axis Capital (NYSE:AXS) had its target price cut by equities research analysts at Bank of America from $119.00 to $115.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price objective indicates a potential upside of 10.72% from the company’s previous close.

AXS has been the subject of several other reports. Royal Bank Of Canada started coverage on shares of Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 target price for the company. Compass Point set a $121.00 price objective on Axis Capital in a research note on Monday, November 24th. UBS Group upped their target price on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on Axis Capital from $121.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, Wells Fargo & Company increased their price objective on shares of Axis Capital from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.89.

Axis Capital Stock Performance

Shares of AXS opened at $103.87 on Thursday. Axis Capital has a 12 month low of $84.81 and a 12 month high of $110.34. The business’s fifty day simple moving average is $103.41 and its two-hundred day simple moving average is $98.79. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 0.96 and a beta of 0.65.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.28. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $3.38 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Research analysts anticipate that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Institutional Trading of Axis Capital

Several hedge funds have recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Axis Capital in the third quarter valued at approximately $29,000. Smithfield Trust Co increased its holdings in Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after buying an additional 142 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Axis Capital during the second quarter worth $37,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Axis Capital during the 2nd quarter valued at about $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Axis Capital in the third quarter valued at approximately $43,000. 93.44% of the stock is owned by hedge funds and other 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.