Axis Capital (NYSE:AXS) Given Buy Rating at TD Cowen

Key Points

• TD Cowen reiterated a “Buy” rating on Axis Capital and set a $130 price target, implying 31.11% upside from the prior close.
• Analyst sentiment remains favorable, with nine Buy ratings, three Holds, and one Sell; MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $121.23.
• Axis Capital’s latest quarterly EPS of $2.84 missed the $3.25 consensus estimate, although revenue rose 7.4% year over year to $1.75 billion. Institutional investors own 93.44% of the company’s stock.

Axis Capital (NYSE:AXS - Get Free Report)'s stock had its "buy" rating restated by equities researchers at TD Cowen in a report released on Tuesday,Benzinga reports. They currently have a $130.00 target price on the insurance provider's stock. TD Cowen's target price would indicate a potential upside of 31.11% from the stock's previous close.

Several other research analysts have also recently issued reports on the stock. Mizuho cut their target price on shares of Axis Capital from $142.00 to $130.00 and set an "outperform" rating on the stock in a report on Monday, August 3rd. BMO Capital Markets reissued a "market perform" rating on shares of Axis Capital in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Axis Capital from $131.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company cut their target price on Axis Capital from $134.00 to $126.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Finally, Atlantic Securities set a $122.00 price target on shares of Axis Capital in a research report on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Axis Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.23.

Axis Capital Stock Performance

AXS stock traded down $0.19 during midday trading on Tuesday, hitting $99.15. The company's stock had a trading volume of 22,664 shares, compared to its average volume of 649,655. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 4.31 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $107.42 and its 200 day moving average price is $103.11. Axis Capital has a 1 year low of $88.07 and a 1 year high of $119.99.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.41). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.29 earnings per share. On average, equities analysts forecast that Axis Capital will post 12.39 EPS for the current year.

Institutional Investors Weigh In On Axis Capital

Several institutional investors have recently modified their holdings of AXS. California State Teachers Retirement System raised its holdings in shares of Axis Capital by 9,953.8% in the second quarter. California State Teachers Retirement System now owns 9,297,106 shares of the insurance provider's stock worth $998,881,000 after buying an additional 9,204,632 shares during the period. VELA Investment Management LLC grew its position in Axis Capital by 7.2% in the 2nd quarter. VELA Investment Management LLC now owns 51,510 shares of the insurance provider's stock valued at $5,534,000 after acquiring an additional 3,474 shares during the last quarter. Wedmont Private Capital grew its position in Axis Capital by 33.4% in the 2nd quarter. Wedmont Private Capital now owns 3,712 shares of the insurance provider's stock valued at $420,000 after acquiring an additional 930 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Axis Capital in the second quarter worth $485,000. Finally, Teza Capital Management LLC purchased a new stake in Axis Capital in the second quarter worth $216,000. 93.44% of the stock is owned by institutional investors.

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.

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