AXIS Capital (NYSE:AXS) Sets New 12-Month High – Here’s Why

AXIS Capital Holdings Limited (NYSE:AXS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $96.00 and last traded at $96.00, with a volume of 128 shares traded. The stock had previously closed at $93.90.

Wall Street Analyst Weigh In

Several research firms recently commented on AXS. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. TD Cowen boosted their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.14.

AXIS Capital Stock Performance

The stock’s fifty day simple moving average is $83.72 and its 200-day simple moving average is $77.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $7.78 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

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

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, September 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, September 30th. AXIS Capital’s dividend payout ratio is currently 24.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance increased its position in AXIS Capital by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after purchasing an additional 125 shares in the last quarter. Pathstone Holdings LLC increased its position in AXIS Capital by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 127 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Gries Financial LLC increased its position in AXIS Capital by 4.9% during the 2nd quarter. Gries Financial LLC now owns 3,523 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 166 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in AXIS Capital by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,394 shares of the insurance provider’s stock worth $1,226,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds 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.