Keefe, Bruyette & Woods Reaffirms Outperform Rating for AXIS Capital (NYSE:AXS)

AXIS Capital (NYSE:AXSGet Free Report)‘s stock had its “outperform” rating restated by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Monday, Benzinga reports. They presently have a $86.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 21.45% from the company’s current price.

Several other equities analysts also recently commented on AXS. Wells Fargo & Company upped their target price on AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.33.

Get Our Latest Stock Analysis on AXS

AXIS Capital Trading Up 1.7 %

AXS stock opened at $70.81 on Monday. AXIS Capital has a one year low of $52.02 and a one year high of $74.05. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.25 and a beta of 0.89. The company has a fifty day moving average price of $67.82 and a two-hundred day moving average price of $62.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.62.

AXIS Capital (NYSE:AXSGet Free Report) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.40 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. AXIS Capital’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. Equities analysts anticipate that AXIS Capital will post 10.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Millegan acquired 1,400 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $71.49 per share, with a total value of $100,086.00. Following the acquisition, the director now directly owns 9,016 shares of the company’s stock, valued at $644,553.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Stanley A. Galanski purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $71.43 per share, with a total value of $142,860.00. Following the acquisition, the director now owns 11,763 shares in the company, valued at approximately $840,231.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Millegan acquired 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at $644,553.84. The disclosure for this purchase can be found here. Insiders have purchased 6,425 shares of company stock valued at $444,351 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AXIS Capital

A number of large investors have recently modified their holdings of AXS. Norges Bank bought a new stake in shares of AXIS Capital during the 4th quarter worth $52,845,000. AQR Capital Management LLC lifted its holdings in shares of AXIS Capital by 89.5% in the third quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider’s stock worth $69,381,000 after acquiring an additional 581,409 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of AXIS Capital by 30.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock valued at $150,928,000 after purchasing an additional 545,546 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of AXIS Capital by 185.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider’s stock valued at $27,051,000 after purchasing an additional 317,169 shares during the last quarter. Finally, Levin Capital Strategies L.P. acquired a new position in AXIS Capital during the 1st quarter worth approximately $17,065,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

About AXIS Capital

(Get Free Report)

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.

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