Axis Capital (NYSE:AXS) Upgraded at Mizuho

Axis Capital (NYSE:AXS) was upgraded by equities research analysts at Mizuho to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on AXS. Keefe, Bruyette & Woods increased their price objective on Axis Capital from $119.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Wells Fargo & Company set a $123.00 target price on Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Axis Capital in a research report on Monday, December 8th. Royal Bank Of Canada started coverage on shares of Axis Capital in a research note on Monday, November 24th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Compass Point set a $121.00 price objective on shares of Axis Capital in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.67.

Axis Capital Price Performance

NYSE AXS opened at $107.14 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.25 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 1.03 and a beta of 0.65. Axis Capital has a 12-month low of $83.90 and a 12-month high of $108.12. The company has a 50 day moving average price of $98.03 and a two-hundred day moving average price of $98.15.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. Axis Capital’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 EPS. As a group, equities analysts predict that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axis Capital

Large investors have recently bought and sold shares of the stock. Smithfield Trust Co grew its position in Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Axis Capital in the third quarter valued at about $29,000. AlphaCore Capital LLC bought a new stake in shares of Axis Capital in the second quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in Axis Capital during the second quarter worth about $41,000. Finally, Abich Financial Wealth Management LLC bought a new position in Axis Capital during the third quarter valued at about $43,000. 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.