AXIS Capital (NYSE:AXS) Stock Price Expected to Rise, TD Cowen Analyst Says

AXIS Capital (NYSE:AXS) had its price target lifted by equities research analysts at TD Cowen from $118.00 to $127.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. TD Cowen’s price objective points to a potential upside of 39.62% from the company’s current price.

A number of other brokerages also recently issued reports on AXS. Roth Mkm increased their price target on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America increased their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group upped 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus target price of $97.14.

AXIS Capital Price Performance

Shares of NYSE AXS opened at $90.96 on Wednesday. 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 stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.31 and a beta of 0.90. The firm’s 50 day simple moving average is $81.93 and its 200-day simple moving average is $76.20. AXIS Capital has a 12 month low of $53.49 and a 12 month high of $91.52.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $2.34 earnings per share. Analysts expect that AXIS Capital will post 10.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its position in AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 226 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of AXIS Capital during the 3rd quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of 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 acquiring an additional 148 shares during the period. Finally, Blue Trust Inc. boosted its holdings in AXIS Capital by 424.6% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 985 shares during the last quarter. 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.