Axis Capital (NYSE:AXS) Price Target Cut to $119.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo cut Axis Capital's price target to $119 (from $123) but kept an "overweight" rating, implying roughly a 19.9% upside from the prior close.
• Analyst consensus is a Moderate Buy—nine Buy ratings and two Holds—with a mean target of $122.10, showing generally positive analyst sentiment despite mixed revisions.
• Axis posted quarterly EPS of $3.42 vs. $3.33 expected (beat) while revenue missed at $1.64B versus $1.72B expected, with strong profitability metrics (net margin 16%, ROE 18.1%).

Axis Capital (NYSE:AXS - Get Free Report) had its price objective decreased by Wells Fargo & Company from $123.00 to $119.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's price target indicates a potential upside of 19.86% from the company's previous close.

Several other brokerages also recently commented on AXS. The Goldman Sachs Group reissued a "neutral" rating and issued a $110.00 price objective on shares of Axis Capital in a research note on Wednesday, January 7th. Weiss Ratings downgraded shares of Axis Capital from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, April 24th. Bank of America lowered their target price on shares of Axis Capital from $115.00 to $106.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Royal Bank Of Canada boosted their price target on shares of Axis Capital from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $122.00 price objective on shares of Axis Capital in a research note on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.10.

Axis Capital Stock Performance

Shares of AXS stock opened at $99.28 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $101.38 and a two-hundred day simple moving average of $101.37. Axis Capital has a 12 month low of $88.07 and a 12 month high of $110.34. The firm has a market capitalization of $7.32 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 3.00 and a beta of 0.54.

Axis Capital (NYSE:AXS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the company earned $3.17 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Analysts forecast that Axis Capital will post 13.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Axis Capital

Several institutional investors have recently bought and sold shares of AXS. Activest Wealth Management purchased a new stake in Axis Capital in the fourth quarter worth $30,000. Root Financial Partners LLC purchased a new stake in Axis Capital in the 3rd quarter worth about $29,000. Abich Financial Wealth Management LLC purchased a new stake in Axis Capital in the 3rd quarter worth about $43,000. Fideuram Asset Management Ireland dac bought a new stake in Axis Capital in the 4th quarter valued at about $47,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in Axis Capital during the fourth quarter valued at about $51,000. Hedge funds and other 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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