AXIS Capital (NYSE:AXS) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of AXIS Capital (NYSE:AXS) from a buy rating to a hold rating in a report published on Friday.

A number of other brokerages have also recently commented on AXS. BMO Capital Markets started coverage on AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target on the stock. UBS Group upped their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. TD Cowen lifted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price objective on AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Bank of America lifted their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.25.

AXIS Capital Stock Performance

NYSE AXS opened at $90.98 on Friday. The firm has a 50-day moving average price of $90.09 and a two-hundred day moving average price of $82.50. AXIS Capital has a 12-month low of $55.56 and a 12-month high of $94.89. The company has a market capitalization of $7.61 billion, a P/E ratio of 7.37, a P/E/G ratio of 0.29 and a beta of 0.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results 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%. Analysts anticipate that AXIS Capital will post 11.45 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s payout ratio is currently 14.25%.

Institutional Trading of AXIS Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the third quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. increased its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc raised its holdings in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 130 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of AXIS Capital by 28.5% in the 4th quarter. Venturi Wealth Management LLC now owns 833 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 185 shares during the period. Finally, R Squared Ltd acquired a new position in shares of AXIS Capital in the 4th quarter worth approximately $82,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.