Stock analysts at StockNews.com assumed coverage on shares of AXIS Capital (NYSE:AXS – Get Free Report) in a research report issued on Thursday. The brokerage set a “buy” rating on the insurance provider’s stock.
Several other equities research analysts have also recently commented on AXS. Roth Capital restated a “buy” rating on shares of AXIS Capital in a research note on Thursday, April 27th. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $59.00 to $61.00 and gave the company a “market perform” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.25.
Get Our Latest Stock Report on AXS
AXIS Capital Trading Up 1.0 %
NYSE:AXS opened at $55.71 on Thursday. AXIS Capital has a fifty-two week low of $48.32 and a fifty-two week high of $63.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $4.75 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. The business’s 50-day simple moving average is $54.35 and its 200-day simple moving average is $55.83.
AXIS Capital (NYSE:AXS – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.46. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.39 billion. AXIS Capital had a return on equity of 14.09% and a net margin of 6.85%. AXIS Capital’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 EPS. Sell-side analysts expect that AXIS Capital will post 8.22 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other AXIS Capital news, Director Henry B. Smith sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $55.50, for a total transaction of $333,000.00. Following the transaction, the director now owns 49,710 shares of the company’s stock, valued at approximately $2,758,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Duality Advisers LP acquired a new position in shares of AXIS Capital during the 4th quarter worth approximately $1,312,000. Handelsbanken Fonder AB increased its holdings in shares of AXIS Capital by 160.6% during the 1st quarter. Handelsbanken Fonder AB now owns 27,100 shares of the insurance provider’s stock worth $1,477,000 after acquiring an additional 16,700 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of AXIS Capital by 1.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 33,768 shares of the insurance provider’s stock worth $1,829,000 after acquiring an additional 430 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of AXIS Capital during the 4th quarter worth approximately $72,000. Finally, Victory Capital Management Inc. boosted its stake in AXIS Capital by 34.4% in the 1st quarter. Victory Capital Management Inc. now owns 48,821 shares of the insurance provider’s stock valued at $2,662,000 after purchasing an additional 12,484 shares during the period. 90.47% of the stock is owned by institutional investors and hedge funds.
About AXIS Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine classes covering offshore energy, cargo, liability, kidnap and ransom, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
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