Axis Capital (NYSE:AXS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on Axis Capital to $123 and kept an overweight rating, implying roughly a 19.61% upside from the prior close.
• Analysts' consensus is a Moderate Buy with an average price target of $123.80, backed by multiple Buy/Outperform ratings from firms including Jefferies, RBC and UBS.
• Axis topped quarterly expectations with $3.25 EPS (vs. $2.97 est.) and $1.73B revenue (vs. $1.33B est., +17.8% YoY); the stock trades near $102.84 with a P/E of 8.3 and about 93% institutional ownership.

Axis Capital (NYSE:AXS - Get Free Report) had its price target increased by Wells Fargo & Company from $121.00 to $123.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 19.61% from the stock's previous close.

AXS has been the subject of several other reports. Jefferies Financial Group restated a "buy" rating and issued a $122.00 price objective on shares of Axis Capital in a report on Friday, January 30th. Royal Bank Of Canada boosted their price target on shares of Axis Capital from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods decreased their price target on shares of Axis Capital from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Tuesday. Bank of America lowered their price objective on shares of Axis Capital from $119.00 to $115.00 and set a "neutral" rating for the company in a report on Thursday, January 29th. Finally, UBS Group reaffirmed a "buy" rating on shares of Axis Capital in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.80.

Axis Capital Trading Down 0.1%

AXS traded down $0.05 during midday trading on Thursday, reaching $102.84. 8,029 shares of the company's stock traded hands, compared to its average volume of 616,390. Axis Capital has a 52 week low of $88.07 and a 52 week high of $110.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a fifty day moving average of $102.55 and a two-hundred day moving average of $100.80. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 2.01 and a beta of 0.63.

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

Institutional Inflows and Outflows

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