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

AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $94.94 and last traded at $94.12, with a volume of 442977 shares traded. The stock had previously closed at $91.81.

Analyst Ratings Changes

Several research firms have recently commented on AXS. Keefe, Bruyette & Woods upped their target price on AXIS Capital from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. UBS Group upped their price objective on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. TD Cowen raised their target price on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.88.

AXIS Capital Trading Up 2.5 %

The firm has a market capitalization of $7.87 billion, a P/E ratio of 7.62, a PEG ratio of 4.00 and a beta of 0.95. The business’s 50 day moving average is $89.85 and its two-hundred day moving average is $84.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Analysts expect that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.87%. AXIS Capital’s payout ratio is 14.25%.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds have recently made changes to their positions in AXS. True Wealth Design LLC bought a new stake in AXIS Capital during the third quarter worth approximately $40,000. Steward Partners Investment Advisory LLC bought a new stake in shares of AXIS Capital during the 4th quarter worth $53,000. Versant Capital Management Inc boosted its stake in shares of AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of AXIS Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of AXIS Capital during the fourth quarter worth $60,000. 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.