Axis Capital (NYSE:AXS – Get Free Report) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $126.00 to $131.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 14.54% from the company’s previous close.
A number of other equities research analysts also recently commented on AXS. Weiss Ratings downgraded shares of Axis Capital from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 4th. Mizuho set a $137.00 price objective on Axis Capital in a research report on Monday, May 4th. Wells Fargo & Company dropped their price objective on Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Bank of America decreased their target price on Axis Capital from $115.00 to $106.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.60.
View Our Latest Analysis on AXS
Axis Capital Stock Performance
Axis Capital (NYSE:AXS – Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 earnings per share. On average, analysts predict that Axis Capital will post 13.25 earnings per share for the current fiscal year.
Insider Transactions at Axis Capital
In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of Axis Capital stock in a transaction 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 in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On Axis Capital
Several hedge funds have recently made changes to their positions in AXS. Activest Wealth Management purchased a new position in shares of Axis Capital in the 4th quarter valued at approximately $30,000. Assetmark Inc. lifted its stake in shares of Axis Capital by 80.8% in the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 177 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Axis Capital in the first quarter valued at about $43,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Axis Capital during the fourth quarter worth about $47,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Axis Capital in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 93.44% of the company’s stock.
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.
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