AXIS Capital (NYSE:AXS) Hits New 52-Week High on Analyst Upgrade

Shares of AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $118.00 to $120.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. AXIS Capital traded as high as $101.42 and last traded at $99.20, with a volume of 800856 shares. The stock had previously closed at $99.64.

A number of other research firms have also recently commented on AXS. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company cut their price target on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and an average target price of $100.50.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in AXIS Capital by 60.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,658 shares of the insurance provider’s stock valued at $2,451,000 after buying an additional 10,393 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in AXIS Capital by 197.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock worth $2,175,000 after acquiring an additional 16,298 shares during the period. Mackenzie Financial Corp purchased a new stake in AXIS Capital during the 4th quarter valued at about $610,000. Forum Financial Management LP acquired a new position in shares of AXIS Capital in the fourth quarter valued at about $254,000. Finally, Vise Technologies Inc. purchased a new position in shares of AXIS Capital in the fourth quarter worth about $224,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a fifty day moving average of $93.00 and a 200 day moving average of $87.91. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.76%. AXIS Capital’s payout ratio is 14.25%.

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.