Axis Capital Holdings Limited (NYSE:AXS) Receives $121.23 Average Price Target from Brokerages

Axis Capital Holdings Limited (NYSE:AXS) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $121.2308.

Several equities research analysts have recently issued reports on AXS shares. Capital One Financial set a $108.00 price target on Axis Capital in a report on Wednesday, July 29th. TD Cowen restated a “buy” rating and issued a $130.00 price objective on shares of Axis Capital in a report on Tuesday, August 25th. Wells Fargo & Company cut their price objective on shares of Axis Capital from $134.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Zacks Research cut shares of Axis Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Axis Capital from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 18th.

Axis Capital Trading Down 0.8%

NYSE AXS opened at $98.76 on Friday. Axis Capital has a 1-year low of $88.07 and a 1-year high of $119.99. 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 capitalization of $7.21 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 4.34 and a beta of 0.50. The firm’s fifty day simple moving average is $107.12 and its 200-day simple moving average is $102.90.

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). Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. Axis Capital’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Axis Capital will post 12.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axis Capital

Several institutional investors and hedge funds have recently modified their holdings of AXS. Orion Porfolio Solutions LLC boosted its holdings in Axis Capital by 5.0% in the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock worth $202,000 after purchasing an additional 100 shares in the last quarter. Truist Financial Corp raised its holdings in Axis Capital by 2.3% during the fourth quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock valued at $492,000 after buying an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Axis Capital by 2.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock worth $577,000 after buying an additional 107 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Axis Capital by 0.3% in the fourth quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock worth $3,975,000 after buying an additional 122 shares during the last quarter. Finally, Evoke Wealth LLC boosted its stake in shares of Axis Capital by 6.0% during the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 161 shares in the last quarter. 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.