A number of other equities research analysts also recently commented on AXS. TheStreet upgraded shares of Axis Capital from a c rating to a b- rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Axis Capital from a hold rating to a buy rating and set a $62.00 price objective for the company in a research report on Tuesday, April 2nd. Morgan Stanley set a $62.00 price objective on shares of Axis Capital and gave the company a hold rating in a research report on Friday, April 26th. UBS Group raised their price objective on shares of Axis Capital from $58.00 to $59.00 and gave the company a neutral rating in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Axis Capital from a market perform rating to an outperform rating and raised their price objective for the company from $61.00 to $67.00 in a research report on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $62.57.
Shares of AXS opened at $60.02 on Thursday. Axis Capital has a fifty-two week low of $48.27 and a fifty-two week high of $60.09. The stock has a market cap of $4.90 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 1.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.
Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.16). Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company posted $1.46 EPS. Axis Capital’s quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Axis Capital will post 4.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Axis Capital’s payout ratio is 83.33%.
Several hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC grew its stake in Axis Capital by 145.8% in the 1st quarter. Cerebellum GP LLC now owns 5,926 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 3,515 shares during the period. Advisory Services Network LLC purchased a new stake in Axis Capital in the 1st quarter worth approximately $37,000. Nordea Investment Management AB grew its stake in Axis Capital by 2.4% in the 1st quarter. Nordea Investment Management AB now owns 171,488 shares of the insurance provider’s stock worth $9,393,000 after acquiring an additional 4,100 shares during the period. Jane Street Group LLC purchased a new stake in Axis Capital in the 1st quarter worth approximately $408,000. Finally, Man Group plc boosted its holdings in shares of Axis Capital by 129.2% in the 1st quarter. Man Group plc now owns 996,314 shares of the insurance provider’s stock valued at $54,578,000 after purchasing an additional 561,592 shares during the last quarter. Institutional investors own 77.95% of the company’s stock.
About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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