Axis Capital (NYSE:AXS) Given New $119.00 Price Target at Keefe, Bruyette & Woods

Axis Capital (NYSE:AXS) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $125.00 to $119.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 26.31% from the stock’s previous close.

AXS has been the subject of a number of other reports. The Goldman Sachs Group started coverage on shares of Axis Capital in a report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 target price for the company. Wall Street Zen cut shares of Axis Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Axis Capital in a report on Wednesday, October 8th. UBS Group upped their target price on shares of Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $123.00 target price on shares of Axis Capital and gave the company an “overweight” rating in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Axis Capital Trading Up 0.6%

Shares of NYSE AXS opened at $94.22 on Tuesday. The firm’s 50 day moving average price is $95.40 and its 200-day moving average price is $97.81. The company has a market cap of $7.26 billion, a PE ratio of 7.79, a P/E/G ratio of 1.06 and a beta of 0.73. Axis Capital has a 52-week low of $78.64 and a 52-week high of $107.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69.

Axis Capital (NYSE:AXS) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.53. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The firm had revenue of $184.90 million for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Axis Capital will post 11.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Henry B. Smith sold 3,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total value of $345,345.00. Following the completion of the sale, the director directly owned 47,295 shares of the company’s stock, valued at $4,666,597.65. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel J. Draper sold 4,305 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $97.57, for a total transaction of $420,038.85. Following the completion of the sale, the insider directly owned 16,269 shares of the company’s stock, valued at approximately $1,587,366.33. This trade represents a 20.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,205 shares of company stock valued at $1,188,048. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Axis Capital

Institutional investors have recently bought and sold shares of the stock. Smithfield Trust Co grew its stake in Axis Capital by 94.0% during the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 142 shares in the last quarter. Root Financial Partners LLC purchased a new position in Axis Capital during the third quarter valued at $29,000. AlphaCore Capital LLC purchased a new position in Axis Capital during the second quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new position in Axis Capital during the second quarter valued at $41,000. Finally, IFP Advisors Inc grew its stake in Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 540 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

About Axis Capital

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.