AXIS Capital (NYSE:AXS) Rating Lowered to "Hold" at StockNews.com

StockNews.com cut shares of AXIS Capital (NYSE:AXS - Free Report) from a buy rating to a hold rating in a research report released on Friday.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They issued a "market perform" rating and a $93.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $118.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, March 28th. JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.88.

AXIS Capital Price Performance

Shares of AXS traded up $3.25 during midday trading on Friday, hitting $91.82. 246,778 shares of the company traded hands, compared to its average volume of 604,780. The stock has a 50-day moving average of $93.82 and a 200-day moving average of $88.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital has a one year low of $60.45 and a one year high of $101.42. The firm has a market cap of $7.42 billion, a P/E ratio of 7.52, a PEG ratio of 3.96 and a beta of 0.67.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. As a group, sell-side analysts predict that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.92%. AXIS Capital's payout ratio is 14.25%.

Insider Activity

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the sale, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company's stock.

Institutional Trading of AXIS Capital

Several hedge funds and other institutional investors have recently bought and sold shares of AXS. Steward Partners Investment Advisory LLC bought a new stake in AXIS Capital during the 4th quarter valued at $53,000. Versant Capital Management Inc boosted its holdings in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 285 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in AXIS Capital during the 4th quarter valued at about $60,000. Finally, Assetmark Inc. bought a new position in AXIS Capital during the 4th quarter valued at approximately $70,000. Institutional investors own 93.44% of the company's stock.

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.