Axis Capital (NYSE:AXS) Price Target Raised to $142.00 at Mizuho

Key Points

• Mizuho raised its price target on Axis Capital from $137 to $142 and kept an "outperform" rating, implying about 25.6% upside from the stock’s current price.
• Other analysts remain mostly constructive, with several firms recently lifting targets or ratings; overall, Axis Capital has a consensus "Moderate Buy" and an average target price of $123.20.
• Axis Capital posted solid quarterly results, reporting EPS of $3.42, above estimates, while revenue rose 8% year over year to $1.64 billion, though it came in below expectations.

Axis Capital (NYSE:AXS - Get Free Report) had its price objective boosted by equities researchers at Mizuho from $137.00 to $142.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Mizuho's price target indicates a potential upside of 25.61% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings upgraded Axis Capital from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday. Bank of America decreased their target price on Axis Capital from $115.00 to $106.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. UBS Group boosted their price target on Axis Capital from $129.00 to $131.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company dropped their price target on Axis Capital from $123.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Axis Capital from $126.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Axis Capital has a consensus rating of "Moderate Buy" and an average target price of $123.20.

Axis Capital Trading Down 1.3%

Axis Capital stock opened at $113.05 on Thursday. Axis Capital has a 12-month low of $88.07 and a 12-month high of $115.91. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 3.50 and a beta of 0.49. The firm has a 50 day moving average of $101.61 and a 200 day moving average of $102.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.25.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.33 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share. As a group, research analysts predict that Axis Capital will post 13.25 earnings per share for the current year.

Insider Activity at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares of the company's stock, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Axis Capital

Several hedge funds have recently modified their holdings of AXS. Orion Porfolio Solutions LLC grew its holdings in shares of Axis Capital by 5.0% in the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider's stock valued at $202,000 after purchasing an additional 100 shares in the last quarter. Truist Financial Corp raised its stake in Axis Capital by 2.3% during the fourth quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider's stock valued at $492,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Axis Capital by 2.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider's stock valued at $577,000 after purchasing an additional 107 shares during the last quarter. Stifel Financial Corp lifted its position in 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 purchasing an additional 122 shares during the last quarter. Finally, Evoke Wealth LLC grew its stake in shares of Axis Capital by 6.0% in the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider's stock worth $304,000 after buying an additional 161 shares in the last quarter. 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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