Axis Capital (NYSE:AXS) Price Target Cut to $130.00 by Analysts at Mizuho

Key Points

• Mizuho cut Axis Capital’s price target from $142 to $130 while maintaining an “outperform” rating, implying 23.13% upside from the prior close. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of $121.42.
• Axis Capital reported quarterly EPS of $2.84, below the $3.25 consensus estimate, while revenue of $1.75 billion slightly exceeded expectations and rose 7.4% year over year.
• AXS opened at $105.58 and has traded between $88.07 and $119.99 over the past year; institutional investors own 93.44% of the company’s shares.

Axis Capital (NYSE:AXS - Get Free Report) had its target price reduced by equities research analysts at Mizuho from $142.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Mizuho's price target would indicate a potential upside of 23.13% from the company's previous close.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Axis Capital in a report on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of Axis Capital from $126.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Bank of America dropped their price objective on shares of Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Axis Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday. Finally, Capital One Financial set a $108.00 price objective on shares of Axis Capital in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Axis Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.42.

Axis Capital Trading Up 0.2%

AXS opened at $105.58 on Monday. Axis Capital has a 12 month low of $88.07 and a 12 month high of $119.99. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 4.39 and a beta of 0.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day moving average price of $106.22 and a 200 day moving average price of $103.21.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.25 by ($0.41). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. Axis Capital's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.29 EPS. Sell-side analysts expect that Axis Capital will post 12.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Axis Capital

In other news, Director Henry B. Smith sold 2,542 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, 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 this link. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Axis Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Activest Wealth Management acquired a new stake in shares of Axis Capital during the fourth quarter worth about $30,000. Assetmark Inc. boosted its position in shares of Axis Capital by 80.8% in the 1st quarter. Assetmark Inc. now owns 396 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 177 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Axis Capital during the 1st quarter worth approximately $43,000. Fideuram Asset Management Ireland dac purchased a new position in Axis Capital during the 4th quarter worth approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in Axis Capital during the fourth quarter worth approximately $51,000. 93.44% of the stock is owned by hedge funds and other 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.

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