Buckingham Research upgraded shares of Axis Capital (NYSE:AXS) from a neutral rating to a buy rating in a research note published on Friday, BenzingaRatingsTable reports. The brokerage currently has $70.00 price target on the insurance provider’s stock, up from their prior price target of $60.00.
Other research analysts have also recently issued reports about the company. TheStreet raised Viacom from a c+ rating to a b- rating in a research report on Wednesday, April 24th. Zacks Investment Research cut GasLog Partners LP Unit from a hold rating to a strong sell rating in a research report on Tuesday, April 2nd. ValuEngine lowered Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. Morgan Stanley set a $10.00 target price on Ford Motor and gave the stock a hold rating in a report on Friday, April 26th. Finally, UBS Group lowered AGL Energy to a sell rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $64.00.
AXS stock opened at $59.89 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.03 billion, a PE ratio of 31.19, a P/E/G ratio of 1.46 and a beta of 0.35. The stock’s 50-day moving average price is $60.20. Axis Capital has a fifty-two week low of $48.27 and a fifty-two week high of $61.58.
Axis Capital (NYSE:AXS) last posted its quarterly earnings data 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). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.96 billion. Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. As a group, sell-side analysts anticipate that Axis Capital will post 4.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 2.67%. Axis Capital’s payout ratio is presently 83.33%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Axis Capital by 32.4% during the fourth quarter. American Century Companies Inc. now owns 388,150 shares of the insurance provider’s stock worth $20,044,000 after acquiring an additional 95,039 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Axis Capital by 3.5% during the first quarter. Commonwealth Bank of Australia now owns 20,881 shares of the insurance provider’s stock worth $1,139,000 after acquiring an additional 700 shares in the last quarter. HRT Financial LLC bought a new stake in Axis Capital in the fourth quarter valued at approximately $6,524,000. FMR LLC raised its stake in Axis Capital by 23.9% in the fourth quarter. FMR LLC now owns 4,145,225 shares of the insurance provider’s stock valued at $214,059,000 after buying an additional 800,331 shares during the period. Finally, First Trust Advisors LP raised its stake in Axis Capital by 25.2% in the first quarter. First Trust Advisors LP now owns 704,168 shares of the insurance provider’s stock valued at $38,574,000 after buying an additional 141,827 shares during the period. Institutional investors and hedge funds own 89.47% of the company’s stock.
Axis Capital Company Profile
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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