Wells Fargo & Company Forecasts Strong Price Appreciation for AXIS Capital (NYSE:AXS) Stock

AXIS Capital (NYSE:AXS - Get Free Report) had its price target raised by Wells Fargo & Company from $100.00 to $104.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 4.38% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group upped their target price on shares of AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price target on AXIS Capital from $120.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. StockNews.com raised shares of AXIS Capital from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Jefferies Financial Group lifted their target price on shares of AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, BMO Capital Markets started coverage on AXIS Capital in a research report on Monday, January 13th. They set a "market perform" rating and a $93.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.25.

AXIS Capital Stock Performance

AXS opened at $99.63 on Tuesday. AXIS Capital has a 52-week low of $65.49 and a 52-week high of $102.00. The firm's 50-day moving average price is $95.15 and its 200-day moving average price is $90.84. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.84 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 3.96 and a beta of 0.82.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results 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 net margin of 18.16% and a return on equity of 18.89%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $3.07 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that AXIS Capital will post 11.19 EPS for the current fiscal year.

Insider Activity at AXIS Capital

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXS. NBC Securities Inc. bought a new position in AXIS Capital during the 1st quarter worth approximately $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of AXIS Capital in the 4th quarter worth about $53,000. IFP Advisors Inc lifted its holdings in 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 buying an additional 540 shares during the period. EverSource Wealth Advisors LLC lifted its position in AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 285 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in AXIS Capital during the fourth quarter valued at $60,000. 93.44% of the stock is owned by 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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