Keefe, Bruyette & Woods Issues Positive Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price target boosted by investment analysts at Keefe, Bruyette & Woods from $118.00 to $120.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 20.33% from the company’s previous close.

Several other research firms have also issued reports on AXS. BMO Capital Markets initiated coverage on AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

AXIS Capital Trading Up 0.0 %

Shares of NYSE AXS opened at $99.72 on Friday. AXIS Capital has a fifty-two week low of $60.45 and a fifty-two week high of $100.78. The firm has a market capitalization of $8.06 billion, a P/E ratio of 8.07, a P/E/G ratio of 3.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50 day simple moving average is $92.81 and its 200 day simple moving average is $87.59.

AXIS Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, analysts predict that AXIS Capital will post 11.19 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares of the company’s stock, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in AXS. Wealth Enhancement Advisory Services LLC grew its position in AXIS Capital by 60.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,658 shares of the insurance provider’s stock valued at $2,451,000 after purchasing an additional 10,393 shares in the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of AXIS Capital by 197.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 24,542 shares of the insurance provider’s stock worth $2,175,000 after buying an additional 16,298 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of AXIS Capital during the 4th quarter worth about $610,000. Forum Financial Management LP bought a new position in shares of AXIS Capital in the 4th quarter valued at about $254,000. Finally, Vise Technologies Inc. acquired a new stake in shares of AXIS Capital in the fourth quarter valued at about $224,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.