Brokerages Set Axis Capital Holdings Limited (NYSE:AXS) Price Target at $124.00

Shares of Axis Capital Holdings Limited (NYSE:AXS) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $123.60.

A number of equities research analysts have issued reports on AXS shares. Royal Bank Of Canada boosted their price target on Axis Capital from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings raised Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 17th. Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Axis Capital in a research report on Thursday, January 29th. Wells Fargo & Company lowered their price target on Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lowered their price target on Axis Capital from $130.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday.

Axis Capital Price Performance

AXS opened at $101.00 on Wednesday. The company’s 50 day simple moving average is $102.57 and its 200 day simple moving average is $100.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.65. Axis Capital has a 1 year low of $86.86 and a 1 year high of $110.34. The stock has a market capitalization of $7.47 billion, a PE ratio of 8.15, a P/E/G ratio of 2.01 and a beta of 0.63.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.28. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company earned $3.38 earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Axis Capital will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The company 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 dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Axis Capital’s payout ratio is 14.21%.

Institutional Investors Weigh In On Axis Capital

Institutional investors have recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. grew its position in Axis Capital by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 1,222,932 shares of the insurance provider’s stock valued at $117,157,000 after acquiring an additional 6,571 shares during the period. Synergy Asset Management LLC lifted its stake in shares of Axis Capital by 63.2% during the third quarter. Synergy Asset Management LLC now owns 352,050 shares of the insurance provider’s stock worth $33,726,000 after purchasing an additional 136,313 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Axis Capital by 30.3% during the third quarter. Allianz Asset Management GmbH now owns 970,411 shares of the insurance provider’s stock worth $92,965,000 after purchasing an additional 225,569 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Axis Capital during the third quarter worth about $1,118,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Axis Capital by 22.8% during the third quarter. New York State Common Retirement Fund now owns 110,364 shares of the insurance provider’s stock worth $10,573,000 after purchasing an additional 20,484 shares in the last quarter. 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.