Axis Capital (AXS) Rating Increased to Market Perform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Axis Capital (NYSE:AXS) from an underperform rating to a market perform rating in a research report sent to investors on Tuesday, January 9th, MarketBeat Ratings reports.

A number of other analysts have also recently commented on the stock. UBS Group cut their target price on shares of Axis Capital from $57.00 to $55.00 and set a sell rating for the company in a research note on Monday, October 2nd. MKM Partners cut their target price on shares of Axis Capital from $80.00 to $70.00 and set a buy rating for the company in a research note on Wednesday, October 18th. ValuEngine raised shares of Axis Capital from a sell rating to a hold rating in a research note on Sunday, December 31st. Citigroup cut their target price on shares of Axis Capital from $59.00 to $58.00 and set a neutral rating for the company in a research note on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of Axis Capital from a hold rating to a sell rating in a research report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $61.27.

Shares of Axis Capital (AXS) traded down $0.50 during trading on Tuesday, hitting $48.92. 835,206 shares of the company traded hands, compared to its average volume of 789,553. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.21. Axis Capital has a 12-month low of $48.00 and a 12-month high of $71.06. The stock has a market capitalization of $4,070.00, a PE ratio of -15.93, a PEG ratio of 1.26 and a beta of 0.58.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.34) by ($0.01). Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $972.10 million. During the same period in the previous year, the firm posted $1.78 EPS. analysts predict that Axis Capital will post -2.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.39 dividend. This is a positive change from Axis Capital’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Thursday, December 28th. Axis Capital’s dividend payout ratio is currently -50.81%.

In other news, EVP Conrad D. Brooks sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total value of $392,325.00. Following the transaction, the executive vice president now directly owns 6,027 shares in the company, valued at approximately $315,272.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AXS. Schwab Charles Investment Management Inc. increased its stake in Axis Capital by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 310,951 shares of the insurance provider’s stock worth $20,107,000 after buying an additional 2,040 shares during the period. CIBC World Markets Inc. purchased a new stake in shares of Axis Capital in the 2nd quarter valued at approximately $1,092,000. Aberdeen Asset Management PLC UK increased its position in shares of Axis Capital by 101.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 22,069 shares of the insurance provider’s stock valued at $1,427,000 after purchasing an additional 11,133 shares during the last quarter. Capital Fund Management S.A. increased its position in shares of Axis Capital by 117.3% in the 2nd quarter. Capital Fund Management S.A. now owns 31,115 shares of the insurance provider’s stock valued at $2,012,000 after purchasing an additional 16,798 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Axis Capital by 5.1% in the 2nd quarter. Teachers Advisors LLC now owns 130,480 shares of the insurance provider’s stock valued at $8,437,000 after purchasing an additional 6,370 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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Axis Capital Company Profile

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.

Analyst Recommendations for Axis Capital (NYSE:AXS)

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