AXIS Capital (NYSE:AXS) Hits New 1-Year High – Should You Buy?

AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $98.26 and last traded at $98.03, with a volume of 815955 shares trading hands. The stock had previously closed at $95.00.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXS shares. BMO Capital Markets initiated coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a “market perform” rating and a $93.00 price objective for the company. Wells Fargo & Company reduced their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price target on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Price Performance

The firm’s fifty day moving average is $92.39 and its 200 day moving average is $87.42. The company has a market capitalization of $8.04 billion, a P/E ratio of 8.06, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) 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%. As a group, analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 31st. AXIS Capital’s dividend payout ratio is presently 14.25%.

Insider Buying and Selling at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of AXIS Capital

A number of hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of AXIS Capital during the 4th quarter worth $88,175,000. Norges Bank purchased a new stake in shares of AXIS Capital during the fourth quarter valued at about $88,147,000. FIL Ltd bought a new stake in shares of AXIS Capital in the 4th quarter valued at about $43,893,000. Massachusetts Financial Services Co. MA purchased a new position in shares of AXIS Capital in the 4th quarter worth approximately $37,775,000. Finally, Swedbank AB bought a new position in shares of AXIS Capital during the 4th quarter worth approximately $31,118,000. Hedge funds and other institutional investors 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.