AXIS Capital (NYSE:AXS) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of AXIS Capital (NYSE:AXS) from a buy rating to a hold rating in a research report released on Monday morning.

A number of other equities analysts have also issued reports on AXS. TD Cowen upped their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group upped their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods upped their target price on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research report on Monday, January 13th. They set a “market perform” rating and a $93.00 target price on the stock. Finally, Wells Fargo & Company cut their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.88.

AXIS Capital Price Performance

Shares of AXIS Capital stock opened at $93.94 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 7.61, a P/E/G ratio of 3.96 and a beta of 0.95. AXIS Capital has a 1-year low of $60.06 and a 1-year high of $95.58. The firm’s 50-day moving average price is $90.06 and its two-hundred day moving average price is $84.95.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. On average, equities analysts predict that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a $0.44 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.87%. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insiders Place Their Bets

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in AXIS Capital by 48.6% in the third quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock worth $30,070,000 after purchasing an additional 121,437 shares during the period. HighTower Advisors LLC acquired a new stake in AXIS Capital in the third quarter worth $638,000. Verition Fund Management LLC acquired a new stake in AXIS Capital in the third quarter worth $453,000. Entropy Technologies LP acquired a new stake in AXIS Capital in the third quarter worth $507,000. Finally, Jennison Associates LLC increased its position in shares of AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after acquiring an additional 318,784 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About AXIS Capital

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.