Brokerages Set Axis Capital Holdings Ltd. (AXS) Price Target at $61.00
Axis Capital Holdings Ltd. (NYSE:AXS) has been assigned an average rating of “Hold” from the eight research firms that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $61.00.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Axis Capital Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Morgan Stanley lifted their target price on Axis Capital Holdings from $59.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, Goldman Sachs Group Inc. lowered Axis Capital Holdings from a “neutral” rating to a “sell” rating in a report on Tuesday.
Shares of Axis Capital Holdings (NYSE:AXS) opened at 61.54 on Friday. The company has a market cap of $5.44 billion, a P/E ratio of 12.30 and a beta of 0.47. Axis Capital Holdings has a 1-year low of $51.01 and a 1-year high of $61.94. The stock’s 50 day moving average price is $56.89 and its 200 day moving average price is $55.30.
Axis Capital Holdings (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.73. Axis Capital Holdings had a return on equity of 8.62% and a net margin of 12.81%. The business had revenue of $595.43 million for the quarter, compared to analyst estimates of $710.69 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was down 12.1% on a year-over-year basis. Equities research analysts forecast that Axis Capital Holdings will post $4.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were paid a $0.35 dividend. This is an increase from Axis Capital Holdings’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $1.40 annualized dividend and a dividend yield of 2.27%. Axis Capital Holdings’s dividend payout ratio (DPR) is currently 27.72%.
In other Axis Capital Holdings news, Director Michael A. Butt sold 40,673 shares of Axis Capital Holdings stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $57.01, for a total value of $2,318,767.73. Following the sale, the director now owns 1,161,675 shares of the company’s stock, valued at approximately $66,227,091.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard T. Gieryn, Jr. sold 10,400 shares of Axis Capital Holdings stock in a transaction dated 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 sale, the executive vice president now directly owns 15,958 shares in the company, valued at approximately $896,041.70. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Eaton Vance Management increased its stake in Axis Capital Holdings by 23.2% in the third quarter. Eaton Vance Management now owns 6,945 shares of the company’s stock valued at $377,000 after buying an additional 1,308 shares in the last quarter. Mackenzie Financial Corp increased its stake in Axis Capital Holdings by 0.5% in the third quarter. Mackenzie Financial Corp now owns 21,820 shares of the company’s stock worth $1,185,000 after buying an additional 109 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in Axis Capital Holdings during the third quarter worth about $340,000. Boston Private Wealth LLC increased its stake in Axis Capital Holdings by 18.1% in the third quarter. Boston Private Wealth LLC now owns 10,820 shares of the company’s stock worth $588,000 after buying an additional 1,655 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Axis Capital Holdings by 62.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the company’s stock worth $141,000 after buying an additional 1,000 shares in the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
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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