Equities research analysts at Citigroup Inc. began coverage on shares of Axis Capital Holdings Ltd. (NYSE:AXS) in a report issued on Tuesday. The firm set a “sell” rating and a $55.00 price target on the stock. Citigroup Inc.’s price target points to a potential downside of 10.06% from the company’s current price.

A number of other research analysts also recently issued reports on AXS. Morgan Stanley increased their price objective 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. Zacks Investment Research upgraded Axis Capital Holdings from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, November 8th. Finally, Goldman Sachs Group Inc. downgraded Axis Capital Holdings from a “neutral” rating to a “sell” rating in a report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.50.

Analyst Recommendations for Axis Capital Holdings (NYSE:AXS)

Axis Capital Holdings (NYSE:AXS) opened at 61.15 on Tuesday. The stock’s 50 day moving average price is $57.96 and its 200-day moving average price is $55.60. Axis Capital Holdings has a one year low of $51.01 and a one year high of $62.71. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 12.23 and a beta of 0.47.

Axis Capital Holdings (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.73. The company had revenue of $595.43 million for the quarter, compared to analyst estimates of $710.69 million. Axis Capital Holdings had a return on equity of 8.62% and a net margin of 12.81%. Axis Capital Holdings’s revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities research analysts expect that Axis Capital Holdings will post $4.21 EPS for the current fiscal year.

In other news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of Axis Capital Holdings stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $56.15, for a total transaction of $583,960.00. Following the completion of the transaction, the executive vice president now directly owns 15,958 shares in the company, valued at approximately $896,041.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Butt sold 40,673 shares of Axis Capital Holdings stock in a transaction that occurred on 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 transaction, the director now owns 1,161,675 shares of the company’s stock, valued at $66,227,091.75. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Axis Capital Holdings during the second quarter valued at approximately $30,128,000. Daiwa Securities Group Inc. increased its position in shares of Axis Capital Holdings by 1,375.0% in the second quarter. Daiwa Securities Group Inc. now owns 35,400 shares of the company’s stock valued at $1,947,000 after buying an additional 33,000 shares in the last quarter. Hermes Investment Management Ltd. increased its position in shares of Axis Capital Holdings by 48.8% in the second quarter. Hermes Investment Management Ltd. now owns 118,882 shares of the company’s stock valued at $6,539,000 after buying an additional 39,000 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Axis Capital Holdings by 3.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 652,614 shares of the company’s stock valued at $35,894,000 after buying an additional 20,932 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Axis Capital Holdings by 29.4% in the second quarter. LS Investment Advisors LLC now owns 9,781 shares of the company’s stock valued at $538,000 after buying an additional 2,224 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and republished in violation of US & international copyright law. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/24/citigroup-inc-initiates-coverage-on-axis-capital-holdings-ltd-axs.html.

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.

5 Day Chart for NYSE:AXS

Receive News & Stock Ratings for Axis Capital Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital Holdings Ltd. and related stocks with our FREE daily email newsletter.