Axis Capital (NYSE:AXS – Get Free Report) had its price objective boosted by investment analysts at Mizuho from $137.00 to $142.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s target price would indicate a potential upside of 25.61% from the stock’s previous close.
A number of other research firms have also recently commented on AXS. UBS Group lifted their price target on shares of Axis Capital from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday. Weiss Ratings upgraded Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Wells Fargo & Company cut their target price on Axis Capital from $123.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, Bank of America reduced their price target on Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $123.20.
View Our Latest Analysis on Axis Capital
Axis Capital Price Performance
Axis Capital (NYSE:AXS – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $3.17 EPS. Axis Capital’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Axis Capital will post 13.25 EPS for the current year.
Insider Activity at Axis Capital
In other news, Director Henry B. Smith sold 2,542 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the sale, the director owned 46,347 shares in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Institutional Trading of Axis Capital
Hedge funds have recently bought and sold shares of the stock. Activest Wealth Management bought a new stake in Axis Capital during the 4th quarter valued at $30,000. Assetmark Inc. lifted its stake in shares of Axis Capital by 80.8% during the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Axis Capital during the 1st quarter worth $43,000. Fideuram Asset Management Ireland dac bought a new stake in Axis Capital during the fourth quarter valued at about $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in Axis Capital during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.
Axis Capital Company Profile
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.
See Also
- Five stocks we like better than Axis Capital
- Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
- Sony Is Going All-Digital—But Investors Should Watch This Instead
- Scotiabank Sees a New Growth Story for Cloudflare
- A Market Panic Just Discounted the AI Highway’s Tollbooth
Receive News & Ratings for Axis Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital and related companies with MarketBeat.com's FREE daily email newsletter.
