Axis Capital (NYSE:AXS – Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $112.00 to $122.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.60% from the company’s previous close.
Several other research firms have also recently commented on AXS. BMO Capital Markets restated a “market perform” rating on shares of Axis Capital in a research report on Wednesday, July 29th. Atlantic Securities set a $122.00 target price on shares of Axis Capital in a report on Wednesday, July 15th. Roth Capital set a $115.00 price objective on Axis Capital in a report on Thursday. Mizuho decreased their target price on Axis Capital from $118.00 to $116.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, Capital One Financial set a $108.00 price objective on shares of Axis Capital in a research note on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.46.
Axis Capital Stock Performance
Shares of AXS opened at $104.63 on Monday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 3.50 and a beta of 0.38. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.26. Axis Capital has a 52-week low of $92.23 and a 52-week high of $119.99. The business’s 50 day moving average is $98.73 and its two-hundred day moving average is $101.99.
Axis Capital (NYSE:AXS – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.27. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.69 billion. Axis Capital had a return on equity of 16.61% and a net margin of 14.62%. During the same period in the previous year, the company earned $3.25 earnings per share. Analysts forecast that Axis Capital will post 12.38 EPS for the current fiscal year.
Institutional Trading of Axis Capital
A number of hedge funds have recently bought and sold shares of AXS. Dimensional Fund Advisors LP lifted its holdings 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 valued at $373,412,000 after acquiring an additional 299,573 shares during the period. Janus Henderson Group PLC increased its position in Axis Capital by 1.2% in the first quarter. Janus Henderson Group PLC now owns 1,710,902 shares of the insurance provider’s stock worth $173,504,000 after purchasing an additional 21,001 shares during the period. Swedbank AB grew its position in shares of Axis Capital by 14.0% during the 1st quarter. Swedbank AB now owns 1,362,091 shares of the insurance provider’s stock worth $138,130,000 after buying an additional 167,337 shares during the period. Jennison Associates LLC raised its position in shares of Axis Capital by 2.2% during the 1st quarter. Jennison Associates LLC now owns 1,071,887 shares of the insurance provider’s stock valued at $108,700,000 after acquiring an additional 23,109 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Axis Capital by 31.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 979,944 shares of the insurance provider’s stock worth $99,376,000 after buying an additional 234,353 shares during the last quarter. 93.44% of the stock is owned by institutional investors.
About Axis Capital
Axis Capital Holdings Limited (NYSE: AXS) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.
AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.
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