AXIS Capital (NYSE:AXS) Sets New 52-Week High - Still a Buy?

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $105.77 and last traded at $104.35, with a volume of 748749 shares trading hands. The stock had previously closed at $104.88.

Wall Street Analysts Forecast Growth

AXS has been the topic of several recent research reports. Wells Fargo & Company increased their price target on AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded AXIS Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. JMP Securities reiterated a "market perform" rating on shares of AXIS Capital in a research note on Thursday, May 1st. Finally, Cowen reiterated a "buy" rating on shares of AXIS Capital in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

AXIS Capital Stock Up 2.0%

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $98.18 and a 200-day simple moving average of $94.08. The firm has a market capitalization of $8.42 billion, a PE ratio of 8.67, a P/E/G ratio of 3.96 and a beta of 0.83.

AXIS Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $0.53. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $3.07 earnings per share. The business's revenue for the quarter was up 6.8% on a year-over-year basis. Analysts forecast that AXIS Capital Holdings Limited will post 11.19 EPS for the current year.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, June 30th. AXIS Capital's dividend payout ratio is currently 17.46%.

Hedge Funds Weigh In On AXIS Capital

Large investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in shares of AXIS Capital in the first quarter worth $33,000. Steward Partners Investment Advisory LLC bought a new position in shares of AXIS Capital in the fourth quarter worth $53,000. IFP Advisors Inc boosted its holdings in shares of AXIS Capital by 1,542.9% in 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 period. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of AXIS Capital in the fourth quarter worth $60,000. 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.