Axis Capital Holdings Limited (NYSE:AXS) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Axis Capital Holdings Limited (NYSE:AXS) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $120.31.

Several brokerages have recently commented on AXS. Keefe, Bruyette & Woods reduced their target price on Axis Capital from $131.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. TD Cowen reissued a “buy” rating and issued a $130.00 price objective on shares of Axis Capital in a research note on Tuesday, August 25th. Weiss Ratings downgraded Axis Capital from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, September 21st. Atlantic Securities set a $122.00 target price on Axis Capital in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company cut their target price on Axis Capital from $134.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AXS. Dimensional Fund Advisors LP increased its position in shares of Axis Capital by 8.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,682,238 shares of the insurance provider’s stock worth $373,412,000 after acquiring an additional 299,573 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Axis Capital by 1.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,710,902 shares of the insurance provider’s stock valued at $173,504,000 after purchasing an additional 21,001 shares during the last quarter. Geode Capital Management LLC increased its holdings in Axis Capital by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,387,004 shares of the insurance provider’s stock worth $148,565,000 after purchasing an additional 10,246 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Axis Capital by 41.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,370,479 shares of the insurance provider’s stock worth $146,765,000 after purchasing an additional 400,068 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Axis Capital by 14.0% in the first quarter. Swedbank AB now owns 1,362,091 shares of the insurance provider’s stock worth $138,130,000 after purchasing an additional 167,337 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Axis Capital Price Performance

Axis Capital stock opened at $95.28 on Wednesday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 4.12 and a beta of 0.49. Axis Capital has a 52-week low of $88.07 and a 52-week high of $119.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64. The stock’s 50 day moving average price is $101.63 and its two-hundred day moving average price is $102.19.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.41). Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm posted $3.29 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that Axis Capital will post 12.38 earnings per share for the current year.

Axis Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital’s dividend payout ratio is presently 12.50%.

About Axis Capital

AXIS Capital Holdings Limited is a global specialty insurance and reinsurance company headquartered in Bermuda. Through its insurance and reinsurance operations, the company provides coverage and risk-transfer solutions for businesses, institutions, and other insurers.

Its insurance offerings include commercial property and casualty coverage, professional liability, cyber insurance, marine and aviation insurance, accident and health products, and other specialty lines. Its reinsurance business supports primary insurers across property, casualty, specialty, and other risks, using both treaty and facultative arrangements.

Founded in 2001, AXIS serves clients and distribution partners through operations in key insurance markets, including Bermuda, the United States, Canada, the United Kingdom, Europe, and other international locations.