UBS Group upgraded shares of Axis Capital (NYSE:AXS) from a neutral rating to a buy rating in a report published on Thursday, May 23rd, Stock Target Advisor reports. UBS Group currently has $67.00 price target on the insurance provider’s stock, up from their prior price target of $59.00.
AXS has been the subject of a number of other research reports. Zacks Investment Research lowered Axis Capital from a hold rating to a strong sell rating in a research report on Thursday, January 31st. TheStreet lowered Axis Capital from a b- rating to a c rating in a research report on Thursday, January 31st. Keefe, Bruyette & Woods upgraded Axis Capital from a market perform rating to an outperform rating and raised their price objective for the stock from $61.00 to $67.00 in a research report on Wednesday, March 13th. Morgan Stanley set a $62.00 price objective on Axis Capital and gave the stock a hold rating in a research report on Friday, April 26th. Finally, ValuEngine lowered Axis Capital from a buy rating to a hold rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Axis Capital presently has an average rating of Buy and a consensus target price of $62.57.
Shares of AXS traded up $0.11 during trading hours on Thursday, reaching $60.59. 436,100 shares of the company’s stock traded hands, compared to its average volume of 582,456. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. Axis Capital has a twelve month low of $48.27 and a twelve month high of $60.90.
Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.16). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.96 billion. Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. Axis Capital’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Analysts forecast that Axis Capital will post 4.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 27th. Axis Capital’s dividend payout ratio is currently 83.33%.
A number of hedge funds and other institutional investors have recently modified their holdings of AXS. Marshall Wace North America L.P. grew its stake in Axis Capital by 315.8% in the first quarter. Marshall Wace North America L.P. now owns 20,584 shares of the insurance provider’s stock valued at $1,128,000 after acquiring an additional 15,633 shares during the period. Marshall Wace LLP boosted its position in shares of Axis Capital by 1,488.4% during the first quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock worth $172,000 after buying an additional 2,947 shares during the period. Cerebellum GP LLC boosted its position in shares of Axis Capital by 145.8% during the first quarter. Cerebellum GP LLC now owns 5,926 shares of the insurance provider’s stock worth $325,000 after buying an additional 3,515 shares during the period. Advisory Services Network LLC acquired a new position in shares of Axis Capital during the first quarter worth about $37,000. Finally, Nordea Investment Management AB boosted its position in shares of Axis Capital by 2.4% during the first quarter. Nordea Investment Management AB now owns 171,488 shares of the insurance provider’s stock worth $9,393,000 after buying an additional 4,100 shares during the period. 89.47% of the stock is currently owned by institutional investors.
Axis Capital Company Profile
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 insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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