Axis Capital (NYSE:AXS) Hits New 12-Month High - Should You Buy?

Key Points

• Axis Capital shares hit a new 52-week high on Friday, trading as high as $116.92 and last up about 1.1% on the day, well above both its 50-day and 200-day moving averages.
• Analyst sentiment remains positive, with eight Buy ratings and two Hold ratings. Several firms recently raised price targets, and the consensus target now stands at $124.45.
• The company posted solid fundamentals, including first-quarter EPS of $3.42 versus expectations of $3.33 and a quarterly dividend of $0.44 per share, implying a 1.5% annual yield.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $116.92 and last traded at $116.7890, with a volume of 60144 shares trading hands. The stock had previously closed at $114.62.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AXS shares. Weiss Ratings upgraded Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price objective on Axis Capital from $119.00 to $134.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Atlantic Securities set a $122.00 target price on shares of Axis Capital in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their price target on shares of Axis Capital from $126.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Finally, Mizuho lifted their price target on shares of Axis Capital from $137.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axis Capital has an average rating of "Moderate Buy" and a consensus price target of $124.45.

Axis Capital Stock Up 1.1%

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $8.54 billion, a P/E ratio of 8.63, a P/E/G ratio of 3.32 and a beta of 0.49. The company's 50-day simple moving average is $104.84 and its two-hundred day simple moving average is $102.85.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the business posted $3.17 earnings per share. The business's quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Axis Capital Holdings Limited will post 13.23 earnings per share for the current year.

Axis Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.5%. Axis Capital's dividend payout ratio is currently 13.11%.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the sale, the director owned 46,347 shares in the company, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Axis Capital

A number of hedge funds have recently made changes to their positions in the business. Orion Porfolio Solutions LLC boosted its position in shares of Axis Capital by 5.0% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider's stock valued at $202,000 after acquiring an additional 100 shares during the last quarter. Truist Financial Corp raised its holdings in Axis Capital by 2.3% during the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock valued at $492,000 after buying an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Axis Capital by 2.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider's stock worth $577,000 after buying an additional 107 shares during the last quarter. Stifel Financial Corp increased its position in shares of Axis Capital by 0.3% during the fourth quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider's stock valued at $3,975,000 after buying an additional 122 shares during the period. Finally, Evoke Wealth LLC lifted its position in Axis Capital by 6.0% during the fourth quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock valued at $304,000 after buying an additional 161 shares during the period. 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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