AXIS Capital (NYSE:AXS) Sets New 1-Year High - Here's Why

Shares of AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $104.16 and last traded at $103.90, with a volume of 636167 shares traded. The stock had previously closed at $102.55.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of AXIS Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their price target on AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of AXIS Capital from a "hold" rating to a "buy" rating in a research note 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, AXIS Capital has an average rating of "Moderate Buy" and an average price target of $107.75.

AXIS Capital Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock's 50 day simple moving average is $97.65 and its two-hundred day simple moving average is $93.38. The company has a market capitalization of $8.17 billion, a P/E ratio of 8.41, a P/E/G ratio of 3.96 and a beta of 0.82.

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

AXIS Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, June 30th. AXIS Capital's payout ratio is 17.46%.

Insider Transactions at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now directly owns 2,404,133 shares in the company, valued at $224,786,435.50. This trade represents a 47.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of AXIS Capital by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,247 shares of the insurance provider's stock valued at $367,265,000 after buying an additional 17,764 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of AXIS Capital by 0.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,444,128 shares of the insurance provider's stock worth $305,219,000 after acquiring an additional 12,571 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AXIS Capital by 22.3% during the first quarter. AQR Capital Management LLC now owns 3,290,411 shares of the insurance provider's stock worth $328,580,000 after purchasing an additional 600,901 shares during the period. American Century Companies Inc. lifted its holdings in shares of AXIS Capital by 1.7% during the 4th quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider's stock valued at $281,680,000 after purchasing an additional 53,514 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of AXIS Capital by 1.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,042,925 shares of the insurance provider's stock valued at $181,045,000 after purchasing an additional 20,976 shares during the period. Institutional investors and hedge funds 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.