AXIS Capital (NYSE:AXS) Stock Price Expected to Rise, TD Cowen Analyst Says

AXIS Capital (NYSE:AXS) had its price target increased by TD Cowen from $118.00 to $127.00 in a research note released on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the insurance provider’s stock.

AXS has been the subject of a number of other reports. Jefferies Financial Group increased their price target on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Roth Mkm increased their target price on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Bank of America raised their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat.com, AXIS Capital has an average rating of “Moderate Buy” and an average target price of $97.14.

AXIS Capital Price Performance

Shares of AXS stock opened at $93.77 on Wednesday. AXIS Capital has a twelve month low of $53.49 and a twelve month high of $94.24. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $81.93 and a 200 day simple moving average of $76.20. The company has a market cap of $7.84 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.31 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.16. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same period last year, the company posted $2.34 EPS. On average, sell-side analysts forecast that AXIS Capital will post 10.89 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio is presently 24.41%.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors have recently modified their holdings of AXS. Independent Advisor Alliance raised its stake in AXIS Capital by 0.4% during the third quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after buying an additional 125 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock valued at $2,542,000 after purchasing an additional 127 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its holdings in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Finally, Gries Financial LLC lifted its stake in AXIS Capital by 4.9% in the second quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock valued at $249,000 after buying an additional 166 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.