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

AXIS Capital (NYSE:AXS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities analysts also recently weighed in on AXS. BMO Capital Markets began coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 price target on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. UBS Group boosted their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Stock Up 2.5 %

Shares of NYSE AXS traded up $2.31 during mid-day trading on Monday, hitting $94.12. The company had a trading volume of 709,017 shares, compared to its average volume of 678,669. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $89.90 and a two-hundred day simple moving average of $84.74. The company has a market capitalization of $7.87 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.95. AXIS Capital has a one year low of $60.06 and a one year high of $94.94.

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

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in AXIS Capital by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,247 shares of the insurance provider’s stock valued at $367,265,000 after acquiring an additional 17,764 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in AXIS Capital by 0.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,444,128 shares of the insurance provider’s stock valued at $305,219,000 after purchasing an additional 12,571 shares in the last quarter. American Century Companies Inc. lifted its position in AXIS Capital by 1.7% during the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after purchasing an additional 53,514 shares during the period. AQR Capital Management LLC grew its stake in AXIS Capital by 5.3% during the fourth quarter. AQR Capital Management LLC now owns 2,689,510 shares of the insurance provider’s stock worth $238,344,000 after buying an additional 134,157 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in AXIS Capital by 1.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,042,925 shares of the insurance provider’s stock valued at $181,045,000 after buying an additional 20,976 shares during the period. 93.44% of the stock is currently owned by 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.