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

AXIS Capital (NYSE:AXS) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $94.00 to $96.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 16.21% from the stock’s current price.

A number of other equities analysts have also recently issued reports on AXS. Wells Fargo & Company increased their target price on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. UBS Group increased their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday. Bank of America upped their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen assumed coverage on shares of AXIS Capital in a report on Friday, October 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Finally, Roth Mkm boosted their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

AXIS Capital Stock Down 1.1 %

Shares of AXIS Capital stock opened at $82.61 on Wednesday. AXIS Capital has a 1 year low of $53.14 and a 1 year high of $84.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $6.91 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.27 and a beta of 0.90. The business has a 50-day moving average of $79.69 and a two-hundred day moving average of $74.07.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, topping the consensus estimate of $2.55 by $0.16. The firm 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. As a group, equities analysts predict that AXIS Capital will post 10.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new stake in AXIS Capital in the 1st quarter valued at about $669,000. Janney Montgomery Scott LLC bought a new position in shares of AXIS Capital during the 1st quarter worth approximately $683,000. Daiwa Securities Group Inc. boosted its stake in shares of AXIS Capital by 600.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the insurance provider’s stock worth $455,000 after acquiring an additional 6,000 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of AXIS Capital during the 1st quarter worth approximately $328,000. Finally, Sciencast Management LP bought a new stake in AXIS Capital in the 1st quarter valued at $572,000. Institutional investors own 93.44% of the company’s stock.

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.