AXIS Capital (NYSE:AXS) PT Raised to $78.00 at Bank of America

AXIS Capital (NYSE:AXS) had its price objective boosted by stock analysts at Bank of America from $74.00 to $78.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective indicates a potential upside of 10.53% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on AXS. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $86.00 price target on shares of AXIS Capital in a research report on Monday, June 17th. UBS Group boosted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price target on shares of AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.83.

AXIS Capital Stock Performance

NYSE:AXS opened at $70.57 on Thursday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. The company has a fifty day simple moving average of $70.74 and a two-hundred day simple moving average of $64.04. AXIS Capital has a 52 week low of $52.02 and a 52 week high of $74.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $2.33 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that AXIS Capital will post 10.05 earnings per share for the current fiscal year.

Insider Buying and Selling at AXIS Capital

In other news, Director Michael Millegan acquired 1,400 shares of AXIS Capital stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $71.49 per share, with a total value of $100,086.00. Following the completion of the purchase, the director now owns 9,016 shares of the company’s stock, valued at approximately $644,553.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael Millegan purchased 1,400 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $71.49 per share, with a total value of $100,086.00. Following the completion of the purchase, the director now directly owns 9,016 shares in the company, valued at approximately $644,553.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley A. Galanski purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $71.43 per share, for a total transaction of $142,860.00. Following the purchase, the director now owns 11,763 shares of the company’s stock, valued at $840,231.09. The disclosure for this purchase can be found here. Insiders have acquired 6,425 shares of company stock valued at $444,351 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after buying an additional 165 shares during the period. GAMMA Investing LLC increased its position in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 226 shares during the last quarter. Covestor Ltd increased its position in shares of AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of AXIS Capital in the 4th quarter worth about $43,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of AXIS Capital in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors 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.