AXIS Capital (NYSE:AXS) Reaches New 52-Week High – Should You Buy?

AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during trading on Monday . The stock traded as high as $97.85 and last traded at $97.18, with a volume of 16930 shares changing hands. The stock had previously closed at $96.88.

Analyst Upgrades and Downgrades

AXS has been the subject of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. 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 boosted their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. BMO Capital Markets initiated coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, AXIS Capital presently has a consensus rating of “Moderate Buy” and an average price target of $99.88.

AXIS Capital Trading Down 0.5 %

The stock’s 50 day simple moving average is $90.63 and its 200 day simple moving average is $85.66. The firm has a market cap of $7.65 billion, a PE ratio of 7.67, a PEG ratio of 3.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, sell-side analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.86%. AXIS Capital’s dividend payout ratio is 14.25%.

Insider Buying and Selling

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the transaction, the director now directly owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AXIS Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its position in AXIS Capital by 197.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock worth $2,175,000 after acquiring an additional 16,298 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of AXIS Capital in the fourth quarter worth approximately $610,000. Forum Financial Management LP purchased a new position in shares of AXIS Capital in the fourth quarter worth $254,000. Vise Technologies Inc. bought a new stake in AXIS Capital during the 4th quarter valued at $224,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in AXIS Capital during the 4th quarter valued at $244,000. Institutional investors own 93.44% of the company’s stock.

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.