Axis Capital (AXS) Stock Rating Reaffirmed by Wells Fargo & Co

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Axis Capital (NYSE:AXS)‘s stock had its “hold” rating restated by research analysts at Wells Fargo & Co in a report released on Thursday. They currently have a $60.00 price target on the insurance provider’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 5.36% from the company’s previous close.

Several other brokerages also recently commented on AXS. Zacks Investment Research upgraded shares of Axis Capital from a “hold” rating to a “strong-buy” rating and set a $65.00 target price for the company in a report on Tuesday, July 17th. Citigroup set a $60.00 target price on shares of Axis Capital and gave the company a “hold” rating in a report on Thursday. Finally, TheStreet upgraded shares of Axis Capital from a “c” rating to a “b-” rating in a report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.71.

Shares of AXS stock opened at $56.95 on Thursday. The stock has a market capitalization of $4.80 billion, a PE ratio of -18.08, a PEG ratio of 1.44 and a beta of 0.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55. Axis Capital has a one year low of $47.43 and a one year high of $60.69.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 24th. The insurance provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.27. The company had revenue of $919.94 million during the quarter, compared to the consensus estimate of $987.27 million. Axis Capital had a net margin of 3.91% and a return on equity of 8.02%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($5.35) earnings per share. On average, equities research analysts anticipate that Axis Capital will post 4.68 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Korea Investment CORP purchased a new stake in Axis Capital during the second quarter worth about $962,000. Tower Research Capital LLC TRC increased its holdings in Axis Capital by 365.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,104 shares of the insurance provider’s stock worth $340,000 after buying an additional 4,792 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Axis Capital by 12.0% during the second quarter. Commonwealth Bank of Australia now owns 25,181 shares of the insurance provider’s stock worth $1,396,000 after buying an additional 2,700 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Axis Capital during the third quarter worth about $640,000. Finally, Swiss National Bank increased its holdings in Axis Capital by 2.2% during the second quarter. Swiss National Bank now owns 536,746 shares of the insurance provider’s stock worth $29,854,000 after buying an additional 11,700 shares during the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

Read More: Balance Sheet

Analyst Recommendations for Axis Capital (NYSE:AXS)

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