AXIS Capital (NYSE:AXS) Sets New 12-Month High – Time to Buy?

Shares of AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high on Friday . The company traded as high as $86.15 and last traded at $85.76, with a volume of 16830 shares. The stock had previously closed at $85.08.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen initiated coverage on shares of AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 price objective for the company. Wells Fargo & Company boosted their price objective on AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Bank of America upped their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AXIS Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

AXIS Capital Stock Performance

The company has a 50 day moving average price of $80.22 and a 200-day moving average price of $74.85. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.18 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.29 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the business posted $2.34 EPS. On average, equities analysts expect that AXIS Capital Holdings Limited will post 10.83 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, September 30th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s payout ratio is 24.41%.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors have recently made changes to their positions in AXS. Integrated Wealth Concepts LLC acquired a new stake in AXIS Capital during the 3rd quarter worth about $2,915,000. HighTower Advisors LLC bought a new position in shares of AXIS Capital in the third quarter valued at $638,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in AXIS Capital by 324.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,554 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 1,952 shares during the last quarter. True Wealth Design LLC bought a new stake in AXIS Capital during the third quarter worth $40,000. Finally, Wasatch Advisors LP grew its stake in shares of AXIS Capital by 15.0% in the 3rd quarter. Wasatch Advisors LP now owns 758,311 shares of the insurance provider’s stock worth $60,369,000 after acquiring an additional 99,119 shares in the last quarter. 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.