Axis Capital (NYSE:AXS) had its price target reduced by research analysts at Morgan Stanley from $65.00 to $63.00 in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a “hold” rating on the insurance provider’s stock. Morgan Stanley’s target price points to a potential upside of 16.28% from the company’s previous close.

Several other brokerages also recently commented on AXS. Zacks Investment Research downgraded Axis Capital from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Wells Fargo & Co reaffirmed a “hold” rating and set a $60.00 target price on shares of Axis Capital in a report on Thursday, November 8th. Citigroup set a $60.00 price objective on Axis Capital and gave the stock a “hold” rating in a research note on Thursday, November 8th. Finally, TheStreet raised Axis Capital from a “c” rating to a “b-” rating in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.43.

Shares of NYSE AXS opened at $54.18 on Wednesday. Axis Capital has a 12 month low of $47.43 and a 12 month high of $60.69. The firm has a market cap of $4.61 billion, a PE ratio of 14.03, a P/E/G ratio of 1.54 and a beta of 0.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.56 and a quick ratio of 0.56.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 24th. The insurance provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.69 by $0.27. Axis Capital had a return on equity of 8.02% and a net margin of 3.91%. The business had revenue of $919.94 million during the quarter, compared to the consensus estimate of $987.27 million. During the same period in the prior year, the business posted ($5.35) earnings per share. Axis Capital’s revenue was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that Axis Capital will post 4.2 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its stake in Axis Capital by 179.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,900 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 1,220 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Axis Capital by 83.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,086 shares of the insurance provider’s stock worth $172,000 after acquiring an additional 1,404 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Axis Capital by 26.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,464 shares of the insurance provider’s stock worth $508,000 after acquiring an additional 1,796 shares in the last quarter. Keybank National Association OH lifted its stake in Axis Capital by 7.8% in the 3rd quarter. Keybank National Association OH now owns 25,625 shares of the insurance provider’s stock worth $1,479,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Benedict Financial Advisors Inc. lifted its stake in Axis Capital by 11.5% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 18,698 shares of the insurance provider’s stock worth $1,079,000 after acquiring an additional 1,931 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

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Analyst Recommendations for Axis Capital (NYSE:AXS)

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