Keefe, Bruyette & Woods Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $108.00 to $110.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 28.22% from the stock’s previous close.

Several other research analysts also recently issued reports on AXS. Bank of America lifted their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group increased their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised shares of AXIS Capital from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $78.00 to $89.00 in a research note on Wednesday, December 11th. Finally, TD Cowen raised their price target on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.71.

AXIS Capital Stock Performance

NYSE:AXS traded down $2.12 during mid-day trading on Friday, reaching $85.79. The stock had a trading volume of 92,713 shares, compared to its average volume of 482,200. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50 day simple moving average of $88.33 and a 200 day simple moving average of $80.36. AXIS Capital has a twelve month low of $53.88 and a twelve month high of $94.89. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.31 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm posted $2.34 EPS. On average, analysts expect that AXIS Capital will post 10.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AXIS Capital

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. increased its position in AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after buying an additional 148 shares during the period. Versant Capital Management Inc lifted its holdings in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after buying an additional 985 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of AXIS Capital in the third quarter worth $99,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.