AXIS Capital (NYSE:AXS) Price Target Lowered to $114.00 at Keefe, Bruyette & Woods

AXIS Capital (NYSE:AXS) had its target price cut by Keefe, Bruyette & Woods from $120.00 to $114.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets initiated coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.75.

AXIS Capital Trading Up 1.6 %

AXS opened at $92.86 on Wednesday. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $101.42. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $93.96 and its two-hundred day moving average is $89.07. The company has a market capitalization of $7.30 billion, a P/E ratio of 7.52, a PEG ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating 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%. Analysts forecast that AXIS Capital will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Insider Buying and Selling

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AXIS Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vest Financial LLC purchased a new position in AXIS Capital during the first quarter worth approximately $3,868,000. Merit Financial Group LLC boosted its holdings in shares of AXIS Capital by 140.3% during the 1st quarter. Merit Financial Group LLC now owns 14,897 shares of the insurance provider’s stock worth $1,493,000 after purchasing an additional 8,698 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of AXIS Capital in the first quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in shares of AXIS Capital by 11,415.5% in the first quarter. GAMMA Investing LLC now owns 185,745 shares of the insurance provider’s stock valued at $18,619,000 after purchasing an additional 184,132 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of AXIS Capital by 203.9% during the 1st quarter. Versant Capital Management Inc now owns 2,039 shares of the insurance provider’s stock worth $204,000 after acquiring an additional 1,368 shares during the period. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.