UBS Group Reaffirms Buy Rating for Axis Capital (NYSE:AXS)

Key Points

• UBS Group has raised its price target for Axis Capital from $115.00 to $119.00, signaling a potential upside of 26.88% based on current prices.
• A total of six analysts have given Axis Capital a buy rating, while four have rated it as a hold, with a consensus target price of $111.43.
• Axis Capital reported earnings per share of $3.29 for the last quarter, exceeding expectations, and showed a 12.6% year-over-year revenue growth despite a slight miss on revenue estimates.

UBS Group reiterated their buy rating on shares of Axis Capital (NYSE:AXS - Free Report) in a research report sent to investors on Monday, MarketBeat reports. UBS Group currently has a $119.00 price objective on the insurance provider's stock, up from their previous price objective of $115.00.

Several other equities analysts have also recently weighed in on the company. Cowen restated a "buy" rating on shares of Axis Capital in a report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Wells Fargo & Company raised their target price on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen downgraded shares of Axis Capital from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Axis Capital currently has a consensus rating of "Moderate Buy" and an average price target of $111.43.

Axis Capital Stock Up 0.6%

NYSE:AXS traded up $0.54 during trading hours on Monday, reaching $96.44. 796,605 shares of the stock were exchanged, compared to its average volume of 717,600. The stock has a market cap of $7.54 billion, a PE ratio of 9.27, a PEG ratio of 1.47 and a beta of 0.83. Axis Capital has a twelve month low of $72.85 and a twelve month high of $107.19. The firm has a 50 day moving average of $99.61 and a 200 day moving average of $96.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.69.

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

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, June 30th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.8%. Axis Capital's dividend payout ratio (DPR) is currently 16.92%.

Hedge Funds Weigh In On Axis Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smithfield Trust Co lifted its stake 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 buying an additional 142 shares during the last quarter. NBC Securities Inc. bought a new position in Axis Capital in the 1st quarter valued at about $33,000. IFP Advisors Inc lifted its position in Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after acquiring an additional 540 shares during the last quarter. Allworth Financial LP lifted its position in Axis Capital by 145.1% during the second quarter. Allworth Financial LP now owns 581 shares of the insurance provider's stock worth $60,000 after acquiring an additional 344 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Axis Capital by 21.6% during the second quarter. SBI Securities Co. Ltd. now owns 658 shares of the insurance provider's stock worth $68,000 after acquiring an additional 117 shares during the period. 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.