AXIS Capital (NYSE:AXS) Upgraded by StockNews.com to "Buy"

AXIS Capital (NYSE:AXS - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

A number of other brokerages also recently commented on AXS. Wells Fargo & Company cut their price objective on shares of AXIS Capital from $59.00 to $57.00 and set an "underweight" rating for the company in a research report 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 report on Wednesday, April 10th. Finally, UBS Group lifted their price target on shares of AXIS Capital from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, AXIS Capital presently has a consensus rating of "Hold" and a consensus price target of $67.33.

AXIS Capital Price Performance

AXS stock traded up $0.27 during trading on Friday, hitting $65.45. The stock had a trading volume of 682,789 shares, compared to its average volume of 638,710. The company's 50-day moving average price is $62.84 and its two-hundred day moving average price is $58.73. The stock has a market capitalization of $5.54 billion, a P/E ratio of 10.01, a PEG ratio of 1.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.60 and a quick ratio of 0.60. AXIS Capital has a twelve month low of $51.61 and a twelve month high of $66.74.

AXIS Capital (NYSE:AXS - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.40 by $0.17. AXIS Capital had a return on equity of 19.53% and a net margin of 10.34%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company's quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict that AXIS Capital will post 10.18 EPS for the current fiscal year.

Insider Activity at AXIS Capital

In related news, Director Stanley A. Galanski bought 7,000 shares of AXIS Capital stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $58.45 per share, for a total transaction of $409,150.00. Following the completion of the purchase, the director now owns 9,763 shares in the company, valued at $570,647.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of AXIS Capital during the fourth quarter valued at approximately $52,845,000. AQR Capital Management LLC increased its stake in shares of AXIS Capital by 89.5% in the 3rd 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 during the period. Los Angeles Capital Management LLC raised its position in shares of AXIS Capital by 185.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider's stock worth $27,051,000 after acquiring an additional 317,169 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of AXIS Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,632,025 shares of the insurance provider's stock valued at $486,587,000 after acquiring an additional 207,233 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in AXIS Capital by 26.0% in the fourth quarter. Wasatch Advisors LP now owns 989,689 shares of the insurance provider's stock valued at $54,799,000 after acquiring an additional 204,389 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.