AXIS Capital (NYSE:AXS) Sets New 1-Year High at $66.74

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $66.74 and last traded at $63.65, with a volume of 152220 shares changing hands. The stock had previously closed at $61.94.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXS. StockNews.com downgraded AXIS Capital from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Wells Fargo & Company reduced their target price on AXIS Capital from $59.00 to $57.00 and set an "underweight" rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on AXIS Capital from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Finally, UBS Group increased their target price on AXIS Capital from $77.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, AXIS Capital currently has an average rating of "Hold" and a consensus target price of $67.33.

AXIS Capital Trading Up 5.2 %

The company has a 50 day moving average of $62.71 and a 200 day moving average of $58.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.20 and a beta of 0.80.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts' consensus estimates of ($1.25) by $4.19. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.42 billion. AXIS Capital had a return on equity of 19.25% and a net margin of 6.67%. On average, research analysts predict that AXIS Capital Holdings Limited will post 10.18 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, March 1st. AXIS Capital's dividend payout ratio (DPR) is 43.78%.

Insider Activity at AXIS Capital

In related news, Director Stanley A. Galanski purchased 7,000 shares of AXIS Capital stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $58.45 per share, with a total value of $409,150.00. Following the transaction, the director now directly owns 9,763 shares of the company's stock, valued at $570,647.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AXIS Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of AXIS Capital in the fourth quarter worth about $52,845,000. AQR Capital Management LLC raised its stake in AXIS Capital by 89.5% during the third quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider's stock valued at $69,381,000 after buying an additional 581,409 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of AXIS Capital by 185.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider's stock worth $27,051,000 after purchasing an additional 317,169 shares during the period. Vanguard Group Inc. raised its position in shares of AXIS Capital by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider's stock worth $486,587,000 after purchasing an additional 207,233 shares during the period. Finally, Wasatch Advisors LP raised its position in shares of AXIS Capital by 26.0% during the 4th quarter. Wasatch Advisors LP now owns 989,689 shares of the insurance provider's stock worth $54,799,000 after purchasing an additional 204,389 shares during the period. 93.44% of the stock is owned by institutional investors and hedge funds.

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.