ValuEngine Downgrades Axis Capital Holdings Limited (AXS) to Sell

ValuEngine downgraded shares of Axis Capital Holdings Limited (NYSE:AXS) from a hold rating to a sell rating in a research note released on Friday.

A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Axis Capital Holdings Limited from a sell rating to a strong sell rating in a research report on Saturday, June 24th. Buckingham Research started coverage on Axis Capital Holdings Limited in a research report on Monday, September 11th. They set a neutral rating and a $58.00 price objective on the stock. Wells Fargo & Company reaffirmed a sell rating on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Citigroup Inc. raised their price objective on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a sell rating in a research report on Thursday, July 13th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $70.00 price objective (up previously from $68.00) on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Axis Capital Holdings Limited has an average rating of Hold and an average price target of $63.78.

Axis Capital Holdings Limited (NYSE:AXS) opened at 55.78 on Friday. Axis Capital Holdings Limited has a 12 month low of $52.15 and a 12 month high of $71.06. The firm has a 50-day moving average price of $58.29 and a 200-day moving average price of $63.32. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 12.31 and a beta of 0.59.

Axis Capital Holdings Limited (NYSE:AXS) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The company had revenue of $956.02 million for the quarter, compared to the consensus estimate of $989.95 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts expect that Axis Capital Holdings Limited will post $0.79 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 9th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, October 5th. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is currently 33.70%.

A number of hedge funds and other institutional investors have recently modified their holdings of AXS. Karp Capital Management Corp acquired a new stake in Axis Capital Holdings Limited in the first quarter worth about $295,000. Ameriprise Financial Inc. boosted its holdings in Axis Capital Holdings Limited by 19.5% in the first quarter. Ameriprise Financial Inc. now owns 27,329 shares of the insurance provider’s stock worth $1,834,000 after acquiring an additional 4,451 shares in the last quarter. Oxford Asset Management acquired a new stake in Axis Capital Holdings Limited in the first quarter worth about $718,000. Stifel Financial Corp acquired a new stake in Axis Capital Holdings Limited in the first quarter worth about $462,000. Finally, SG Americas Securities LLC boosted its holdings in Axis Capital Holdings Limited by 25.1% in the first quarter. SG Americas Securities LLC now owns 8,382 shares of the insurance provider’s stock worth $562,000 after acquiring an additional 1,681 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

About Axis Capital Holdings Limited

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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