Analysts Set AXIS Capital Holdings Limited (NYSE:AXS) Price Target at $92.86

AXIS Capital Holdings Limited (NYSE:AXS) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $92.86.

A number of equities analysts have issued reports on AXS shares. Wells Fargo & Company raised their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen started coverage on shares of AXIS Capital in a report on Friday, October 4th. They issued a “buy” rating and a $118.00 target price on the stock. Finally, Roth Mkm raised their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st.

Institutional Investors Weigh In On AXIS Capital

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 165 shares during the period. Gries Financial LLC increased its stake in shares of AXIS Capital by 4.9% during the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after acquiring an additional 166 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of AXIS Capital by 3.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,212 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 172 shares during the period. Finally, Covestor Ltd increased its stake in shares of AXIS Capital by 45.9% during the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 185 shares during the period. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Stock Down 1.8 %

NYSE:AXS opened at $79.74 on Wednesday. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.27 and a beta of 0.89. AXIS Capital has a one year low of $52.90 and a one year high of $83.19. The stock has a 50-day simple moving average of $79.01 and a 200 day simple moving average of $72.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $2.23 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts predict that AXIS Capital will post 10.72 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.21%. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

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.