Axis Capital (NYSE:AXS) Given New $105.00 Price Target at Wells Fargo & Company

Axis Capital (NYSE:AXS - Get Free Report) had its price target raised by equities research analysts at Wells Fargo & Company from $104.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's target price indicates a potential upside of 8.20% from the stock's previous close.

Several other research firms have also weighed in on AXS. Jefferies Financial Group boosted their price objective on shares of Axis Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Wall Street Zen upgraded Axis Capital from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. JMP Securities reissued a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods raised their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $108.25.

Axis Capital Stock Down 1.0%

Shares of Axis Capital stock traded down $1.02 during trading hours on Thursday, reaching $97.04. 917,778 shares of the company's stock were exchanged, compared to its average volume of 626,071. 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 company has a 50 day moving average of $101.61 and a two-hundred day moving average of $95.68. The stock has a market cap of $7.63 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.18 and a beta of 0.81. Axis Capital has a fifty-two week low of $69.50 and a fifty-two week high of $107.19.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. bought a new stake in shares of Axis Capital during the 1st quarter worth approximately $33,000. Steward Partners Investment Advisory LLC bought a new stake in Axis Capital during the fourth quarter worth $53,000. IFP Advisors Inc boosted its holdings 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 valued at $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 valued at $59,000 after purchasing an additional 285 shares during the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Axis Capital during the 4th quarter worth $70,000. Institutional investors and hedge funds own 93.44% of the company's stock.

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.