Axis Capital Holdings Limited (NYSE:AXS) had its price objective reduced by Bank of America Corporation from $73.00 to $67.00 in a research report released on Friday morning. They currently have a buy rating on the insurance provider’s stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley reissued an equal weight rating and issued a $70.00 price objective (up previously from $68.00) on shares of Axis Capital Holdings Limited in a research note on Thursday, July 6th. Zacks Investment Research lowered Axis Capital Holdings Limited from a buy rating to a hold rating in a research note on Wednesday, July 12th. ValuEngine lowered Axis Capital Holdings Limited from a buy rating to a hold rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods reissued a hold rating and issued a $67.00 price objective on shares of Axis Capital Holdings Limited in a research note on Friday, August 18th. Finally, Buckingham Research started coverage on Axis Capital Holdings Limited in a research note on Monday, September 11th. They issued a neutral rating and a $58.00 price objective on the stock. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $64.10.

Shares of Axis Capital Holdings Limited (AXS) opened at 57.76 on Friday. Axis Capital Holdings Limited has a 52 week low of $52.15 and a 52 week high of $71.06. The company’s 50 day moving average is $57.36 and its 200-day moving average is $63.02. The company has a market capitalization of $4.80 billion, a PE ratio of 12.74 and a beta of 0.59.

Axis Capital Holdings Limited (NYSE:AXS) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. The company had revenue of $956.02 million for the quarter, compared to analyst estimates of $989.95 million. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, analysts expect that Axis Capital Holdings Limited will post $0.15 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 9th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. Axis Capital Holdings Limited’s dividend payout ratio is 33.70%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Axis Capital Holdings Limited by 3.0% during the first quarter. Vanguard Group Inc. now owns 8,151,654 shares of the insurance provider’s stock valued at $546,405,000 after acquiring an additional 234,043 shares during the period. BlackRock Inc. lifted its stake in shares of Axis Capital Holdings Limited by 3,740.9% during the first quarter. BlackRock Inc. now owns 6,741,122 shares of the insurance provider’s stock valued at $451,855,000 after acquiring an additional 6,565,613 shares during the period. State Street Corp lifted its stake in shares of Axis Capital Holdings Limited by 2.6% during the first quarter. State Street Corp now owns 3,093,192 shares of the insurance provider’s stock valued at $207,334,000 after acquiring an additional 79,832 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Axis Capital Holdings Limited by 1.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,678,214 shares of the insurance provider’s stock valued at $108,514,000 after acquiring an additional 27,465 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Axis Capital Holdings Limited by 1.3% during the second quarter. Northern Trust Corp now owns 1,143,841 shares of the insurance provider’s stock valued at $73,960,000 after acquiring an additional 14,526 shares during the period. 86.08% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Holdings Limited Company Profile

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Analyst Recommendations for Axis Capital Holdings Limited (NYSE:AXS)

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