Axis Capital Holdings Limited (NYSE:AXS) Price Target Cut to $70.00

Axis Capital Holdings Limited (NYSE:AXS) had its target price lowered by research analysts at MKM Partners from $80.00 to $70.00 in a research report issued to clients and investors on Wednesday, October 18th. The firm currently has a “buy” rating on the insurance provider’s stock. MKM Partners’ target price points to a potential upside of 27.74% from the stock’s previous close.

Several other brokerages have also weighed in on AXS. Wells Fargo & Company restated a “sell” rating on shares of Axis Capital Holdings Limited in a research note on Thursday, July 27th. Citigroup Inc. lifted their price target on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a “sell” rating in a research note on Thursday, July 13th. Zacks Investment Research lowered Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of Axis Capital Holdings Limited in a research note on Thursday, July 6th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.45.

Shares of Axis Capital Holdings Limited (AXS) traded up $0.13 during midday trading on Wednesday, reaching $54.50. The company’s stock had a trading volume of 932,103 shares, compared to its average volume of 801,657. Axis Capital Holdings Limited has a fifty-two week low of $52.15 and a fifty-two week high of $71.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.49 and a current ratio of 0.49.

Axis Capital Holdings Limited (NYSE:AXS) last issued its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($5.34) by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $972.10 million. Axis Capital Holdings Limited had a negative return on equity of 2.54% and a negative net margin of 4.55%. During the same period in the prior year, the firm posted $1.78 EPS. research analysts forecast that Axis Capital Holdings Limited will post -2.1 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in AXS. Meeder Asset Management Inc. acquired a new stake in shares of Axis Capital Holdings Limited in the second quarter valued at $150,000. BlueMountain Capital Management LLC raised its stake in shares of Axis Capital Holdings Limited by 62.0% in the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 979 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Axis Capital Holdings Limited in the second quarter valued at $203,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Axis Capital Holdings Limited in the second quarter valued at $207,000. Finally, Toronto Dominion Bank raised its stake in shares of Axis Capital Holdings Limited by 237.6% in the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 2,514 shares in the last quarter. Institutional investors own 85.85% of the company’s stock.

Axis Capital Holdings Limited Company Profile

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Analyst Recommendations for Axis Capital Holdings Limited (NYSE:AXS)

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