Wells Fargo & Company Issues Pessimistic Forecast for Axis Capital (NYSE:AXS) Stock Price

Axis Capital (NYSE:AXS) had its price target dropped by investment analysts at Wells Fargo & Company from $134.00 to $126.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.34% from the company’s previous close.

AXS has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their price objective on shares of Axis Capital from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Capital One Financial set a $108.00 target price on shares of Axis Capital in a research report on Wednesday. Weiss Ratings raised shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. Bank of America reduced their price target on shares of Axis Capital from $115.00 to $106.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, UBS Group lifted their price objective on shares of Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.42.

Axis Capital Stock Performance

AXS opened at $105.58 on Thursday. The firm has a market cap of $7.70 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 4.38 and a beta of 0.49. Axis Capital has a 52-week low of $88.07 and a 52-week high of $119.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.65 and a current ratio of 0.64. The business’s fifty day moving average is $106.22 and its 200-day moving average is $103.19.

Axis Capital (NYSE:AXS) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.41). The company 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.29 EPS. Sell-side analysts expect that Axis Capital will post 12.96 EPS for the current fiscal year.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the transaction, the director owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axis Capital

A number of hedge funds have recently made changes to their positions in the stock. Activest Wealth Management acquired a new position in Axis Capital during the 4th quarter worth approximately $30,000. Assetmark Inc. boosted its position in Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock valued at $40,000 after buying an additional 177 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Axis Capital in the first quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac acquired a new stake in Axis Capital in the fourth quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Axis Capital during the fourth quarter worth $51,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.