Axis Capital’s (AXS) Neutral Rating Reiterated at Bank of America

Axis Capital (NYSE:AXS)‘s stock had its “neutral” rating reiterated by stock analysts at Bank of America in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $115.00 price target on the insurance provider’s stock, down from their prior price target of $116.00. Bank of America‘s target price suggests a potential upside of 9.04% from the stock’s previous close.

AXS has been the subject of a number of other research reports. UBS Group lifted their price target on shares of Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada initiated coverage on shares of Axis Capital in a research report on Monday, November 24th. They set an “outperform” rating and a $125.00 price objective for the company. Mizuho initiated coverage on Axis Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $133.00 target price on the stock. Compass Point set a $121.00 price target on Axis Capital in a report on Monday, November 24th. Finally, The Goldman Sachs Group began coverage on Axis Capital in a research report on Tuesday, October 14th. They set a “neutral” rating and a $104.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.40.

Axis Capital Stock Up 1.2%

Shares of NYSE AXS opened at $105.46 on Tuesday. The stock has a market cap of $8.12 billion, a P/E ratio of 8.72, a PEG ratio of 1.01 and a beta of 0.65. The business’s fifty day simple moving average is $101.87 and its 200-day simple moving average is $98.59. Axis Capital has a 12-month low of $83.90 and a 12-month high of $110.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27.

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

Institutional Trading of Axis Capital

A number of large investors have recently made changes to their positions in the company. Smithfield Trust Co grew its stake in Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock worth $31,000 after buying an additional 142 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Axis Capital during the third quarter worth approximately $29,000. AlphaCore Capital LLC acquired a new position in shares of Axis Capital in the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new stake in Axis Capital in the 2nd quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Axis Capital in the 3rd quarter valued at $43,000. 93.44% of the stock is owned by institutional investors and hedge funds.

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.