Brokerages Set Axis Capital Holdings Ltd. (NYSE:AXS) Target Price at $58.67
Axis Capital Holdings Ltd. (NYSE:AXS) has received an average recommendation of “Hold” from the eight research firms that are currently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $58.67.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Axis Capital Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Morgan Stanley lifted their target price on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of Axis Capital Holdings in a research note on Tuesday, June 21st.
In related news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $56.15, for a total value of $583,960.00. Following the completion of the transaction, the executive vice president now owns 15,958 shares in the company, valued at approximately $896,041.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Axis Capital Holdings by 10.1% in the third quarter. BNP Paribas Arbitrage SA now owns 16,122 shares of the company’s stock valued at $876,000 after buying an additional 1,474 shares during the period. Calvert Investment Management Inc. bought a new position in Axis Capital Holdings during the second quarter valued at $395,000. Legal & General Group Plc boosted its position in Axis Capital Holdings by 1.0% in the second quarter. Legal & General Group Plc now owns 596,961 shares of the company’s stock valued at $32,793,000 after buying an additional 5,647 shares during the period. Numeric Investors LLC boosted its position in Axis Capital Holdings by 15.9% in the second quarter. Numeric Investors LLC now owns 1,494,372 shares of the company’s stock valued at $82,190,000 after buying an additional 205,139 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Axis Capital Holdings by 14.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 30,000 shares of the company’s stock valued at $1,650,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.
Shares of Axis Capital Holdings (NYSE:AXS) opened at 55.85 on Friday. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.91 and a beta of 0.74. The stock’s 50 day moving average price is $55.55 and its 200 day moving average price is $54.73. Axis Capital Holdings has a 1-year low of $51.01 and a 1-year high of $57.98.
Axis Capital Holdings (NYSE:AXS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $983.53 million. Axis Capital Holdings had a return on equity of 6.44% and a net margin of 14.19%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 earnings per share. Analysts expect that Axis Capital Holdings will post $3.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Axis Capital Holdings’s previous quarterly dividend of $0.29. Axis Capital Holdings’s payout ratio is 25.04%.
Axis Capital Holdings Company Profile
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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