AXIS Capital (NYSE:AXS) Price Target Increased to $90.00 by Analysts at Roth Mkm

AXIS Capital (NYSE:AXS) had its price objective hoisted by Roth Mkm from $75.00 to $90.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

AXS has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $86.00 price objective on shares of AXIS Capital in a research note on Monday, June 17th. Wells Fargo & Company increased their price objective on AXIS Capital from $57.00 to $63.00 and gave the stock an underweight rating in a report on Friday, May 10th. Bank of America boosted their target price on AXIS Capital from $74.00 to $78.00 and gave the company a buy rating in a research note on Thursday, July 11th. UBS Group raised their price target on AXIS Capital from $82.00 to $85.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Finally, StockNews.com raised AXIS Capital from a hold rating to a buy rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, AXIS Capital currently has an average rating of Hold and a consensus target price of $74.43.

AXIS Capital Trading Up 1.7 %

NYSE AXS opened at $75.75 on Wednesday. The firm’s 50 day moving average price is $71.34 and its two-hundred day moving average price is $65.61. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.27 and a beta of 0.90. AXIS Capital has a twelve month low of $52.90 and a twelve month high of $78.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.62 and a current ratio of 0.62.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.41. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. AXIS Capital’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that AXIS Capital will post 10.01 EPS for the current year.

AXIS Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, June 28th. AXIS Capital’s payout ratio is 26.91%.

Insiders Place Their Bets

In other news, Director W Marston Becker purchased 3,025 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $66.58 per share, with a total value of $201,404.50. Following the completion of the transaction, the director now directly owns 21,821 shares in the company, valued at approximately $1,452,842.18. The purchase was disclosed in a filing with the SEC, which is available through this link. In other AXIS Capital news, Director Stanley A. Galanski bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $71.43 per share, for a total transaction of $142,860.00. Following the purchase, the director now directly owns 11,763 shares in the company, valued at $840,231.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Marston Becker purchased 3,025 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $66.58 per share, for a total transaction of $201,404.50. Following the completion of the transaction, the director now owns 21,821 shares in the company, valued at $1,452,842.18. The disclosure for this purchase can be found here. Insiders purchased 6,425 shares of company stock valued at $444,351 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of AXS. Versant Capital Management Inc grew its position in AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC grew its position in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after buying an additional 226 shares in the last quarter. Covestor Ltd increased its stake in AXIS Capital by 45.9% during the first quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 185 shares during the period. Daiwa Securities Group Inc. acquired a new position in AXIS Capital in the 4th quarter valued at approximately $55,000. Finally, Parkside Financial Bank & Trust raised its holdings in AXIS Capital by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds 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.