AXIS Capital (NYSE:AXS) Cut to Hold at StockNews.com

AXIS Capital (NYSE:AXS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company lowered their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets initiated 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. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Finally, JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, AXIS Capital presently has an average rating of “Moderate Buy” and an average price target of $100.50.

AXIS Capital Stock Performance

Shares of NYSE AXS traded down $8.28 during midday trading on Friday, reaching $90.68. 1,113,671 shares of the company traded hands, compared to its average volume of 603,235. The stock has a 50-day moving average price of $93.96 and a 200 day moving average price of $88.48. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital has a 52 week low of $60.45 and a 52 week high of $101.42.

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

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the sale, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in AXIS Capital during the 3rd quarter valued at about $235,000. The Manufacturers Life Insurance Company boosted its holdings in shares of AXIS Capital by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after purchasing an additional 170 shares during the period. BNP Paribas Financial Markets grew its position in AXIS Capital by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 31,144 shares of the insurance provider’s stock valued at $2,479,000 after purchasing an additional 6,944 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AXIS Capital by 131.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,551 shares of the insurance provider’s stock valued at $20,265,000 after buying an additional 144,792 shares during the period. Finally, Captrust Financial Advisors lifted its position in AXIS Capital by 64.5% in the 3rd quarter. Captrust Financial Advisors now owns 6,930 shares of the insurance provider’s stock worth $552,000 after buying an additional 2,718 shares in the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Company Profile

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.