Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for AXIS Capital (NYSE:AXS) Stock

AXIS Capital (NYSE:AXS) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $118.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 20.33% from the company’s current price.

AXS has been the topic of several other reports. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th. BMO Capital Markets started coverage on AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.50.

AXIS Capital Stock Performance

Shares of AXS stock opened at $99.72 on Friday. The stock has a market cap of $8.06 billion, a P/E ratio of 8.07, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a fifty day moving average price of $92.81 and a two-hundred day moving average price of $87.59. AXIS Capital has a one year low of $60.45 and a one year high of $100.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, equities analysts predict that AXIS Capital will post 11.19 EPS for the current year.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,234,636 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the completion of the transaction, the director now owns 4,543,170 shares of the company’s stock, valued at $406,613,715. This represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors have recently added to or reduced their stakes in AXS. Intech Investment Management LLC acquired a new position in shares of AXIS Capital during the third quarter worth $235,000. Cerity Partners LLC lifted its holdings in AXIS Capital by 61.5% during the 3rd quarter. Cerity Partners LLC now owns 52,236 shares of the insurance provider’s stock worth $4,158,000 after buying an additional 19,892 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of AXIS Capital by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock valued at $1,226,000 after buying an additional 170 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of AXIS Capital by 28.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,144 shares of the insurance provider’s stock valued at $2,479,000 after buying an additional 6,944 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of AXIS Capital by 92.9% in the third quarter. Bridgewater Associates LP now owns 80,123 shares of the insurance provider’s stock valued at $6,379,000 after buying an additional 38,577 shares during the period. 93.44% of the stock is owned by institutional investors.

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.