Axis Capital (NYSE:AXS) Earns Buy Rating from TD Cowen

Axis Capital (NYSE:AXS)‘s stock had its “buy” rating reaffirmed by equities researchers at TD Cowen in a report released on Tuesday,Benzinga reports. They currently have a $130.00 target price on the insurance provider’s stock. TD Cowen’s price objective would indicate a potential upside of 31.11% from the company’s previous close.

AXS has been the topic of several other research reports. Keefe, Bruyette & Woods cut their price target on Axis Capital from $131.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company lowered their price objective on shares of Axis Capital from $134.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. BMO Capital Markets reiterated a “market perform” rating on shares of Axis Capital in a report on Wednesday, July 29th. Atlantic Securities set a $122.00 target price on shares of Axis Capital in a research report on Wednesday, July 15th. Finally, Capital One Financial set a $108.00 price target on shares of Axis Capital in a report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Axis Capital has a consensus rating of “Moderate Buy” and an average target price of $121.23.

Axis Capital Trading Down 0.2%

Shares of Axis Capital stock traded down $0.19 on Tuesday, hitting $99.15. 22,664 shares of the company traded hands, compared to its average volume of 649,655. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26. The company has a market cap of $7.23 billion, a PE ratio of 7.02, a PEG ratio of 4.31 and a beta of 0.50. The stock’s 50 day moving average price is $107.42 and its 200-day moving average price is $103.11. Axis Capital has a 52 week low of $88.07 and a 52 week high of $119.99.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.41). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $3.29 EPS. Equities research analysts predict that Axis Capital will post 12.39 EPS for the current year.

Institutional Investors Weigh In On Axis Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management purchased a new stake in shares of Axis Capital in the 4th quarter valued at $30,000. Assetmark Inc. raised its holdings in shares of Axis Capital by 80.8% during the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Axis Capital during the first quarter valued at $43,000. Fideuram Asset Management Ireland dac acquired a new position in Axis Capital during the fourth quarter valued at $47,000. Finally, DV Equities LLC purchased a new stake in Axis Capital in the fourth quarter valued at $54,000. Institutional investors and hedge funds 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.