Axis Capital (NYSE:AXS) Price Target Lowered to $106.00 at Bank of America

Key Points

• Bank of America cut its price target on Axis Capital from $115 to $106 and kept a "neutral" rating, implying roughly a 6.1% upside from the current share price.
• Despite some target cuts, the analyst consensus remains a "Moderate Buy" with a $122.80 average target and multiple firms maintaining Buy/Outperform ratings.
• Axis recently beat quarterly estimates (EPS $3.25 vs. $2.97) with revenue up 17.8% YoY; the stock trades near $99.90, has a $7.4B market cap and a P/E of 8.06.

Axis Capital (NYSE:AXS - Get Free Report) had its price objective cut by stock analysts at Bank of America from $115.00 to $106.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the insurance provider's stock. Bank of America's price target points to a potential upside of 6.10% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Roth Mkm reaffirmed a "buy" rating and issued a $120.00 price target on shares of Axis Capital in a research note on Thursday, January 29th. Mizuho cut their price target on shares of Axis Capital from $141.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $110.00 price target on shares of Axis Capital in a research note on Wednesday, January 7th. Finally, UBS Group reaffirmed a "buy" rating on shares of Axis Capital in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Axis Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.80.

Axis Capital Trading Down 0.1%

Axis Capital stock traded down $0.14 during midday trading on Tuesday, hitting $99.90. 282,448 shares of the stock were exchanged, compared to its average volume of 623,876. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. Axis Capital has a 52 week low of $88.07 and a 52 week high of $110.34. The company has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $100.94. The stock has a market capitalization of $7.40 billion, a PE ratio of 8.06, a P/E/G ratio of 1.94 and a beta of 0.63.

Axis Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.28. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $3.38 earnings per share. The business's revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Axis Capital will post 11.19 EPS for the current fiscal year.

Institutional Trading of Axis Capital

A number of institutional investors have recently made changes to their positions in AXS. Root Financial Partners LLC bought a new position in shares of Axis Capital in the third quarter valued at about $29,000. Activest Wealth Management bought a new position in shares of Axis Capital in the fourth quarter valued at about $30,000. Abich Financial Wealth Management LLC bought a new position in shares of Axis Capital in the third quarter valued at about $43,000. Fideuram Asset Management Ireland dac bought a new position in shares of Axis Capital in the fourth quarter valued at about $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Axis Capital in the fourth quarter valued at about $51,000. 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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