StockNews.com Upgrades AXIS Capital (NYSE:AXS) to Buy

AXIS Capital (NYSE:AXS) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group increased their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price target on AXIS Capital from $97.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. UBS Group upped their price objective on AXIS Capital from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on AXIS Capital from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.75.

AXIS Capital Stock Performance

Shares of AXIS Capital stock opened at $92.86 on Friday. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $101.42. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $93.96 and a 200-day moving average price of $89.07. The company has a market cap of $7.30 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Equities analysts anticipate that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in shares of AXIS Capital during the 1st quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC bought a new stake in AXIS Capital during the 4th quarter valued at $53,000. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital in the fourth quarter worth $60,000. 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.