Brokerages Set Axis Capital Holdings Limited (NYSE:AXS) Price Target at $122.10

Axis Capital Holdings Limited (NYSE:AXS) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $122.10.

AXS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Axis Capital from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Mizuho set a $137.00 price objective on shares of Axis Capital in a research note on Monday, May 4th. Wells Fargo & Company decreased their price objective on shares of Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Bank of America decreased their price objective on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Weiss Ratings cut shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 4th.

Axis Capital Stock Up 0.0%

Shares of NYSE AXS opened at $101.03 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. Axis Capital has a 52 week low of $88.07 and a 52 week high of $110.34. The stock has a market capitalization of $7.45 billion, a P/E ratio of 7.53, a PEG ratio of 3.09 and a beta of 0.51. The stock’s fifty day moving average is $99.33 and its 200 day moving average is $101.80.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $3.17 earnings per share. Axis Capital’s revenue was up 8.0% on a year-over-year basis. Sell-side analysts forecast that Axis Capital will post 13.25 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Axis Capital’s dividend payout ratio (DPR) is 13.11%.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of Axis Capital stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the transaction, the director directly owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management bought a new position in Axis Capital in the fourth quarter valued at approximately $30,000. Assetmark Inc. grew its stake in shares of Axis Capital by 80.8% during the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after buying an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Axis Capital during the first quarter worth $43,000. Abich Financial Wealth Management LLC bought a new stake in shares of Axis Capital during the third quarter worth $43,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of Axis Capital during the fourth quarter worth $47,000. 93.44% of the stock is owned by 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.