AXIS Capital (NYSE:AXS) Price Target Lowered to $85.00 at Wells Fargo & Company

AXIS Capital (NYSE:AXS) had its price objective cut by research analysts at Wells Fargo & Company from $89.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 3.79% from the company’s current price.

AXS has been the topic of a number of other reports. BMO Capital Markets initiated coverage on AXIS Capital in a research report on Monday. They set a “market perform” rating and a $93.00 target price on the stock. UBS Group raised their target price 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. Jefferies Financial Group upped their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of 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 increased their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.25.

AXIS Capital Price Performance

Shares of AXIS Capital stock opened at $88.35 on Tuesday. AXIS Capital has a 52 week low of $53.88 and a 52 week high of $94.89. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $89.03 and its two-hundred day moving average price is $80.92. The stock has a market cap of $7.39 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.31 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.55 by $0.16. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates 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 in the prior year, the business earned $2.34 earnings per share. As a group, sell-side analysts anticipate that AXIS Capital will post 10.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of AXIS Capital by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,087 shares of the insurance provider’s stock valued at $287,909,000 after buying an additional 152,914 shares in the last quarter. AQR Capital Management LLC lifted its stake in AXIS Capital by 9.0% in the second quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after acquiring an additional 213,559 shares during the last quarter. State Street Corp grew its position in AXIS Capital by 7.2% in the third quarter. State Street Corp now owns 1,675,417 shares of the insurance provider’s stock worth $134,110,000 after acquiring an additional 112,536 shares in the last quarter. Jennison Associates LLC increased its stake in shares of AXIS Capital by 24.4% during the 3rd quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after purchasing an additional 318,784 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of AXIS Capital by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,417,464 shares of the insurance provider’s stock valued at $100,144,000 after purchasing an additional 157,110 shares in the last quarter. 93.44% of the stock is owned by institutional investors and hedge funds.

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.