AXIS Capital (NYSE:AXS) Sets New 12-Month High – Should You Buy?

AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $87.24 and last traded at $87.17, with a volume of 1513 shares traded. The stock had previously closed at $86.56.

Analysts Set New Price Targets

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

AXIS Capital Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $7.32 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 0.29 and a beta of 0.90. The company’s 50 day moving average price is $81.01 and its 200-day moving average price is $75.58.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping 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 in the previous year, the firm earned $2.34 EPS. Equities analysts forecast that AXIS Capital Holdings Limited will post 10.89 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is presently 24.41%.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors have recently added to or reduced their stakes in AXS. Geode Capital Management LLC increased its position in shares of AXIS Capital by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,267,338 shares of the insurance provider’s stock worth $100,921,000 after purchasing an additional 43,687 shares during the last quarter. Vestcor Inc bought a new position in AXIS Capital during the third quarter valued at approximately $853,000. Barclays PLC boosted its stake in shares of AXIS Capital by 53.6% during the third quarter. Barclays PLC now owns 48,964 shares of the insurance provider’s stock valued at $3,898,000 after purchasing an additional 17,082 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of AXIS Capital during the third quarter valued at approximately $2,511,000. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of AXIS Capital during the third quarter valued at approximately $223,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.