StockNews.com Downgrades AXIS Capital (NYSE:AXS) to Hold

StockNews.com downgraded shares of AXIS Capital (NYSE:AXS) from a buy rating to a hold rating in a report published on Friday morning.

Several other analysts also recently commented on the company. Wells Fargo & Company lowered their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Bank of America lifted their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price for the company. TD Cowen upped their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, UBS Group boosted their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.25.

AXIS Capital Stock Down 1.9 %

Shares of NYSE:AXS opened at $90.98 on Friday. The firm has a market cap of $7.61 billion, a P/E ratio of 7.37, a PEG ratio of 0.29 and a beta of 0.95. AXIS Capital has a 52-week low of $55.56 and a 52-week high of $94.89. The business’s 50 day simple moving average is $90.09 and its two-hundred day simple moving average is $82.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that AXIS Capital will post 11.45 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is currently 14.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after acquiring an additional 121,437 shares during the period. HighTower Advisors LLC purchased a new stake in AXIS Capital during the 3rd quarter worth about $638,000. Verition Fund Management LLC bought a new position in AXIS Capital in the 3rd quarter worth about $453,000. Entropy Technologies LP purchased a new position in AXIS Capital during the 3rd quarter valued at about $507,000. Finally, Jennison Associates LLC increased its position in shares of AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock valued at $129,371,000 after buying an additional 318,784 shares during the period. 93.44% of the stock is owned by institutional investors.

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.