AXIS Capital (NYSE:AXS) Price Target Raised to $96.00

AXIS Capital (NYSE:AXS) had its target price increased by Keefe, Bruyette & Woods from $94.00 to $96.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.41% from the company’s current price.

A number of other analysts have also issued reports on AXS. Wells Fargo & Company raised their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their target price 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 raised their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen started coverage on shares of AXIS Capital in a research report on Friday, October 4th. They set a “buy” rating and a $118.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, AXIS Capital has an average rating of “Moderate Buy” and an average price target of $95.86.

AXIS Capital Price Performance

Shares of AXS traded up $3.12 during mid-day trading on Wednesday, reaching $83.18. 124,408 shares of the company’s stock were exchanged, compared to its average volume of 576,168. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $79.53 and a two-hundred day simple moving average of $73.94. AXIS Capital has a 52-week low of $53.14 and a 52-week high of $84.84. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.26 and a beta of 0.90.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share for the quarter, topping 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 business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company posted $2.34 EPS. On average, sell-side analysts predict that AXIS Capital will post 10.98 EPS for the current fiscal year.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently made changes to their positions in AXS. Versant Capital Management Inc lifted its holdings in shares of AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 165 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of AXIS Capital by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares in the last quarter. Covestor Ltd increased its stake in AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after buying an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake 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 buying an additional 148 shares during the period. Finally, Blue Trust Inc. increased its stake in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock worth $97,000 after buying an additional 985 shares during the period. 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.