Axis Capital (NYSE:AXS) Price Target Raised to $105.00

Axis Capital (NYSE:AXS - Get Free Report) had its target price boosted by investment analysts at Wells Fargo & Company from $104.00 to $105.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 9.08% from the company's previous close.

AXS has been the subject of several other research reports. Cowen reaffirmed a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. JMP Securities restated a "market perform" rating on shares of Axis Capital in a report on Thursday, May 1st. Wall Street Zen raised Axis Capital from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Keefe, Bruyette & Woods boosted their price target on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, UBS Group upped their price target on Axis Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $108.25.

Axis Capital Trading Down 0.8%

Axis Capital stock traded down $0.78 during trading on Thursday, hitting $96.26. The company's stock had a trading volume of 251,484 shares, compared to its average volume of 624,960. The stock's fifty day moving average is $101.61 and its 200 day moving average is $95.68. Axis Capital has a 1-year low of $69.50 and a 1-year high of $107.19. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 1.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.68 and a current ratio of 0.68.

Axis Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating the consensus estimate of $2.64 by $0.53. The company had revenue of $1.52 billion during 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 revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.07 EPS. As a group, equities research analysts predict that Axis Capital will post 11.19 EPS for the current year.

Institutional Investors Weigh In On Axis Capital

Several hedge funds have recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in Axis Capital in the 1st quarter worth approximately $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Axis Capital in the fourth quarter valued at $53,000. IFP Advisors Inc boosted 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 valued at $58,000 after purchasing an additional 540 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Axis Capital by 73.8% during 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 in the last quarter. Finally, Assetmark Inc. purchased a new stake in Axis Capital during 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.