Axis Capital (NYSE:AXS) Given "Buy (B+)" Rating at Weiss Ratings

Key Points

• Axis Capital (NYSE:AXS) received a reissued "Buy (B+)" rating from Weiss Ratings amid various comments from other brokerages, including a target price increase from Keefe, Bruyette & Woods.
• Insider sales included a transaction where Daniel J. Draper sold 4,305 shares, representing a 20.92% decrease in their ownership.
• For the latest quarter, Axis Capital reported earnings per share of $3.29, exceeding estimates, with a year-over-year revenue increase of 12.6%.

Axis Capital (NYSE:AXS - Get Free Report)'s stock had its "buy (b+)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently commented on AXS. Keefe, Bruyette & Woods lifted their target price on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. UBS Group boosted their price objective on Axis Capital from $119.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen downgraded Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company set a $123.00 target price on Axis Capital and gave the company an "overweight" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $114.14.

Axis Capital Trading Up 0.5%

Shares of AXS stock traded up $0.45 during mid-day trading on Wednesday, hitting $96.99. 840,997 shares of the company's stock were exchanged, compared to its average volume of 700,991. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.38 and a beta of 0.73. The stock has a 50-day simple moving average of $96.39 and a two-hundred day simple moving average of $98.02. Axis Capital has a fifty-two week low of $77.21 and a fifty-two week high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.41. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company posted $2.93 EPS. The business's quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Axis Capital will post 11.19 EPS for the current fiscal year.

Insider Activity

In related news, insider Daniel J. Draper sold 4,305 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $97.57, for a total value of $420,038.85. Following the completion of the sale, the insider directly owned 16,269 shares in the company, valued at approximately $1,587,366.33. The trade was a 20.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry B. Smith sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $98.67, for a total transaction of $345,345.00. Following the transaction, the director owned 47,295 shares of the company's stock, valued at approximately $4,666,597.65. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,205 shares of company stock worth $1,188,048 in the last three months. Company insiders own 0.70% of the company's stock.

Institutional Trading of Axis Capital

Several institutional investors have recently modified their holdings of the business. Smithfield Trust Co boosted its position in shares of Axis Capital by 94.0% during the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider's stock worth $31,000 after purchasing an additional 142 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Axis Capital in the 1st quarter worth about $33,000. AlphaCore Capital LLC purchased a new stake in Axis Capital in the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC purchased a new stake in Axis Capital in the 2nd quarter valued at about $41,000. Finally, IFP Advisors Inc increased its stake in Axis Capital by 1,542.9% in the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after buying an additional 540 shares during the last quarter. 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.

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