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

Axis Capital (NYSE:AXS - Get Free Report) had its target price increased by Wells Fargo & Company from $104.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target points to a potential upside of 9.08% from the company's current price.

Several other equities analysts have also recently issued reports on AXS. UBS Group upped their price objective on Axis Capital from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Keefe, Bruyette & Woods boosted their target price on shares of Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Cowen reiterated a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.25.

Axis Capital Stock Down 0.8%

AXS stock traded down $0.78 during midday trading on Thursday, hitting $96.26. The company's stock had a trading volume of 347,231 shares, compared to its average volume of 627,463. The company has a market cap of $7.57 billion, a PE ratio of 9.55, a P/E/G ratio of 1.16 and a beta of 0.81. Axis Capital has a 12 month low of $70.16 and a 12 month high of $107.19. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average is $101.53 and its 200-day moving average is $95.80.

Axis Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.53. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.83 billion. Axis Capital had a return on equity of 19.01% and a net margin of 14.54%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.07 EPS. On average, equities research analysts forecast that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axis Capital

Several hedge funds and other institutional investors have recently modified their holdings of AXS. NBC Securities Inc. purchased a new stake in shares of Axis Capital in the 1st quarter worth $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Axis Capital in the 4th quarter worth $53,000. IFP Advisors Inc increased its stake in shares of Axis Capital by 1,542.9% in the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock worth $58,000 after purchasing an additional 540 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Axis Capital by 73.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock worth $59,000 after purchasing an additional 285 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Axis Capital in the 4th quarter worth $70,000. 93.44% of the stock is currently 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.