AXIS Capital (NYSE:AXS) Hits New 52-Week High – Here’s Why

Shares of AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during trading on Tuesday . The company traded as high as $94.89 and last traded at $94.07, with a volume of 229751 shares trading hands. The stock had previously closed at $91.85.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXS shares. TD Cowen lifted their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods raised their price target on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group increased their price objective 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. Wells Fargo & Company raised AXIS Capital from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $78.00 to $89.00 in a report on Wednesday, December 11th. Finally, Jefferies Financial Group lifted their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and an average target price of $98.71.

AXIS Capital Stock Performance

The stock has a market cap of $7.53 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50 day moving average price of $85.99 and a two-hundred day moving average price of $78.47.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the company earned $2.34 EPS. As a group, equities research analysts forecast that AXIS Capital Holdings Limited will post 10.83 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.96%. AXIS Capital’s dividend payout ratio is currently 24.41%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in AXIS Capital in the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. grew its stake in AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. lifted its stake in AXIS Capital by 424.6% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 985 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of AXIS Capital during the 3rd quarter valued at about $99,000. Finally, GAMMA Investing LLC increased its holdings in shares of AXIS Capital by 158.0% in the third quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 801 shares during the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.