AXIS Capital (NYSE:AXS) Hits New 52-Week High on Analyst Upgrade

AXIS Capital Holdings Limited (NYSE:AXS)’s share price hit a new 52-week high during trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $118.00 to $120.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. AXIS Capital traded as high as $101.42 and last traded at $99.20, with a volume of 800856 shares traded. The stock had previously closed at $99.64.

AXS has been the subject of several other reports. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of AXIS Capital in a report on Monday, February 3rd. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price target on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

Insiders Place Their Bets

In related news, Director Charles A. Davis sold 2,234,636 shares of the firm’s stock in a transaction 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 transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AXS. True Wealth Design LLC purchased a new stake in shares of AXIS Capital in the third quarter worth $40,000. Steward Partners Investment Advisory LLC purchased a new position in AXIS Capital in the 4th quarter worth approximately $53,000. Versant Capital Management Inc grew its holdings in AXIS Capital by 24.0% during the 4th quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of AXIS Capital by 73.8% during the fourth 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. purchased a new position in shares of AXIS Capital during the fourth quarter valued at about $60,000. Institutional investors own 93.44% of the company’s stock.

AXIS Capital Price Performance

The firm has a fifty day simple moving average of $93.00 and a two-hundred day simple moving average of $87.91. 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 firm has a market cap of $8.08 billion, a PE ratio of 8.10, a PEG ratio of 3.96 and a beta of 0.91.

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

AXIS Capital Dividend Announcement

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

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.