TD Cowen Initiates Coverage on AXIS Capital (NYSE:AXS)

TD Cowen assumed coverage on shares of AXIS Capital (NYSE:AXS) in a research note issued to investors on Friday, Marketbeat reports. The firm issued a buy rating and a $118.00 target price on the insurance provider’s stock.

Several other equities analysts have also commented on AXS. Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $86.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. UBS Group boosted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Roth Mkm raised their price objective on AXIS Capital from $75.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Bank of America boosted their target price on AXIS Capital from $74.00 to $78.00 and gave the company a buy rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on AXIS Capital from $63.00 to $74.00 and gave the stock an underweight rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, AXIS Capital currently has an average rating of Moderate Buy and an average target price of $88.83.

AXIS Capital Stock Performance

Shares of AXS opened at $78.81 on Friday. The stock has a 50-day simple moving average of $76.91 and a 200-day simple moving average of $71.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62. AXIS Capital has a 1 year low of $52.90 and a 1 year high of $82.33. The stock has a market capitalization of $6.67 billion, a PE ratio of 12.05, a PEG ratio of 0.26 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.23 earnings per share. On average, analysts predict that AXIS Capital will post 10.71 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, September 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a yield of 2.23%. AXIS Capital’s payout ratio is 26.91%.

Hedge Funds Weigh In On AXIS Capital

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 165 shares during the period. GAMMA Investing LLC raised its stake 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 worth $36,000 after buying an additional 226 shares in the last quarter. Covestor Ltd lifted its holdings in shares of AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after buying an additional 185 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of AXIS Capital by 32.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares during the period. Finally, Argent Trust Co purchased a new stake in shares of AXIS Capital in the second quarter valued at approximately $205,000. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Company Profile

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.