Axis Capital Holdings Limited (NYSE:AXS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is positive on Axis Capital, with a consensus rating of “Moderate Buy” from 10 analysts. Eight rate the stock a buy, and the average 12-month price target is $124.70.
• Recent earnings topped expectations, as the insurer reported Q1 EPS of $3.42 versus the $3.33 estimate, while revenue rose 8% year over year to $1.64 billion. Analysts now expect full-year EPS of 13.25.
• The company also declared a quarterly dividend of $0.44 per share, equal to an annualized yield of about 1.6%. Separately, insider Henry B. Smith sold 2,542 shares, and institutional ownership remains high at 93.44%.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $124.70.

AXS has been the subject of several analyst reports. Bank of America decreased their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. UBS Group raised their target price on Axis Capital from $129.00 to $131.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price target on Axis Capital from $126.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday. Weiss Ratings upgraded Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday. Finally, Mizuho increased their price objective on shares of Axis Capital from $137.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday.

Axis Capital Stock Performance

NYSE:AXS opened at $112.51 on Friday. The firm's fifty day simple moving average is $101.86 and its 200 day simple moving average is $102.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. Axis Capital has a twelve month low of $88.07 and a twelve month high of $115.91. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 3.45 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 EPS. As a group, equities research analysts expect that Axis Capital will post 13.25 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Axis Capital's payout ratio is presently 13.11%.

Insider Buying and Selling at Axis Capital

In other news, Director Henry B. Smith sold 2,542 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Axis Capital

A number of institutional investors have recently added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in Axis Capital in the 4th quarter valued at about $30,000. Assetmark Inc. increased its position in shares of Axis Capital by 80.8% during the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Axis Capital during the first quarter worth about $43,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Axis Capital in the fourth quarter worth about $47,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Axis Capital in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 93.44% of the company's stock.

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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