AXIS Capital (NYSE:AXS) Upgraded at StockNews.com

StockNews.com upgraded shares of AXIS Capital (NYSE:AXS) from a hold rating to a buy rating in a report released on Saturday morning.

Other research analysts have also issued reports about the company. BMO Capital Markets began coverage on AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. UBS Group increased their target price on AXIS Capital from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price target on shares of AXIS Capital from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $97.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and an average target price of $106.75.

AXIS Capital Stock Up 2.0 %

NYSE:AXS opened at $94.79 on Friday. The stock’s fifty day simple moving average is $94.01 and its 200-day simple moving average is $89.24. The firm has a market capitalization of $7.46 billion, a P/E ratio of 7.68, a P/E/G ratio of 3.96 and a beta of 0.67. 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 has a 12-month low of $60.45 and a 12-month high of $101.42.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. Equities research analysts expect that AXIS Capital will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

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

Insider Activity at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at $224,786,435.50. This trade represents a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On AXIS Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of AXS. Versant Capital Management Inc grew its stake in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 130 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in AXIS Capital by 7.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock valued at $171,000 after purchasing an additional 134 shares during the period. CIBC Asset Management Inc grew its position in shares of AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 137 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of AXIS Capital by 21.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 900 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 160 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of AXIS Capital by 0.4% during the fourth quarter. Baird Financial Group Inc. now owns 40,915 shares of the insurance provider’s stock worth $3,626,000 after purchasing an additional 163 shares during the period. 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.