Axis Capital Holdings Limited (NYSE:AXS)‘s stock had its “sell” rating reissued by equities research analysts at Wells Fargo & Company in a research note issued on Thursday, July 27th.
The analysts wrote, “FFO/sh. Beat. 2Q FFO/sh. was $1.48 vs. Cantor/consensus (FactSet) $1.43/ $1.44. The variance to the estimates includes lower NOI offset by lower G&A and interest expense.””
AXS has been the subject of a number of other research reports. Zacks Investment Research lowered Axis Capital Holdings Limited from a “hold” rating to a “strong sell” rating in a research note on Monday, May 8th. Citigroup Inc. upped their price objective on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the stock a “sell” rating in a research note on Friday, April 7th. ValuEngine upgraded Axis Capital Holdings Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.78.
Shares of Axis Capital Holdings Limited (AXS) traded down 0.49% on Thursday, hitting $63.59. 201,459 shares of the stock traded hands. The stock has a 50 day moving average of $64.43 and a 200-day moving average of $65.86. The stock has a market cap of $5.29 billion, a PE ratio of 14.03 and a beta of 0.60. Axis Capital Holdings Limited has a 1-year low of $53.66 and a 1-year high of $71.06.
Axis Capital Holdings Limited (NYSE:AXS) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The business had revenue of $956.02 million during the quarter, compared to analyst estimates of $989.95 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. Axis Capital Holdings Limited’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Axis Capital Holdings Limited will post $4.01 EPS for the current year.
A number of institutional investors have recently modified their holdings of AXS. Meeder Asset Management Inc. purchased a new position in shares of Axis Capital Holdings Limited during the second quarter worth about $150,000. BlueMountain Capital Management LLC raised its position in Axis Capital Holdings Limited by 62.0% in the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock worth $165,000 after buying an additional 979 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Axis Capital Holdings Limited by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock worth $188,000 after buying an additional 400 shares during the last quarter. Macquarie Group Ltd. raised its position in Axis Capital Holdings Limited by 31.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,900 shares of the insurance provider’s stock worth $189,000 after buying an additional 700 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Axis Capital Holdings Limited during the second quarter worth $203,000. Institutional investors own 89.74% of the company’s stock.
About Axis Capital Holdings Limited
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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