Wall Street Zen Downgrades Axis Capital (NYSE:AXS) to Hold

Key Points

• Wall Street Zen has downgraded Axis Capital (NYSE: AXS) from a "buy" rating to a "hold" rating, while other brokerages have maintained positive ratings with higher price targets.
• Axis Capital recently reported earnings per share of $3.29, exceeding analysts' expectations, although its revenue for the quarter was lower than projected.
• The company's stock has shown volatility, with a 12-month low of $70.16 and a high of $107.19, currently trading at around $93.20.

Axis Capital (NYSE:AXS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on AXS. UBS Group raised their price target on Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Jefferies Financial Group boosted their target price on Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of Axis Capital in a research note on Thursday, May 1st. Cowen reissued a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods raised their target price on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Axis Capital presently has an average rating of "Moderate Buy" and a consensus price target of $110.86.

Axis Capital Price Performance

Shares of AXS opened at $93.20 on Friday. The stock has a fifty day moving average price of $100.17 and a 200 day moving average price of $96.55. The company has a market cap of $7.33 billion, a P/E ratio of 8.96, a PEG ratio of 1.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.69 and a quick ratio of 0.68. Axis Capital has a 12 month low of $70.16 and a 12 month high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.41. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The business's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Axis Capital will post 11.19 earnings per share for the current year.

Institutional Trading of Axis Capital

Several large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Axis Capital in the 1st quarter worth approximately $33,000. IFP Advisors Inc increased its stake in shares of Axis Capital by 1,542.9% in the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after acquiring an additional 540 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Axis Capital during the fourth quarter worth $88,000. Parallel Advisors LLC boosted its position in Axis Capital by 34.0% during the second quarter. Parallel Advisors LLC now owns 1,021 shares of the insurance provider's stock valued at $106,000 after purchasing an additional 259 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in Axis Capital by 36.9% in the first quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after purchasing an additional 319 shares in the last quarter. 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.

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.