AXIS Capital (NYSE:AXS) PT Lowered to $57.00 at Wells Fargo & Company

AXIS Capital (NYSE:AXS) had its price target reduced by Wells Fargo & Company from $59.00 to $57.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

Several other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on AXIS Capital from $75.00 to $80.00 and gave the stock an outperform rating in a report on Wednesday. UBS Group lifted their price target on AXIS Capital from $77.00 to $80.00 and gave the stock a buy rating in a report on Monday, February 5th. Finally, StockNews.com cut AXIS Capital from a buy rating to a hold rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $67.33.

AXIS Capital Stock Performance

Shares of NYSE AXS opened at $61.91 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.30. AXIS Capital has a 12 month low of $51.61 and a 12 month high of $65.86. The stock has a 50 day moving average of $62.37 and a 200-day moving average of $58.16. The company has a market capitalization of $5.24 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.20 and a beta of 0.80.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate of ($1.25) by $4.19. AXIS Capital had a return on equity of 19.25% and a net margin of 6.67%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. As a group, equities research analysts predict that AXIS Capital will post 10.35 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Monday, March 4th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.76 annualized dividend and a yield of 2.84%. AXIS Capital’s dividend payout ratio is presently 43.78%.

Insider Buying and Selling at AXIS Capital

In related news, Director Stanley A. Galanski acquired 7,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $58.45 per share, with a total value of $409,150.00. Following the acquisition, the director now directly owns 9,763 shares of the company’s stock, valued at $570,647.35. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Global Investments raised its holdings in shares of AXIS Capital by 173.9% during the 3rd quarter. Summit Global Investments now owns 81,197 shares of the insurance provider’s stock worth $4,577,000 after buying an additional 51,557 shares in the last quarter. Graham Capital Management L.P. grew its position in shares of AXIS Capital by 721.0% in the 3rd quarter. Graham Capital Management L.P. now owns 58,670 shares of the insurance provider’s stock valued at $3,307,000 after buying an additional 51,524 shares during the last quarter. Sei Investments Co. grew its position in shares of AXIS Capital by 3.9% in the 3rd quarter. Sei Investments Co. now owns 323,408 shares of the insurance provider’s stock valued at $18,230,000 after buying an additional 12,019 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of AXIS Capital in the 3rd quarter valued at about $5,767,000. Finally, Vanguard Group Inc. grew its position in shares of AXIS Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider’s stock valued at $486,587,000 after buying an additional 207,233 shares during the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.