Axis Capital (NYSE:AXS) Sets New 1-Year High – Here’s What Happened

Axis Capital Holdings Limited (NYSE:AXS) hit a new 52-week high on Friday . The stock traded as high as $116.63 and last traded at $115.9380, with a volume of 8945 shares changing hands. The stock had previously closed at $113.62.

Analyst Ratings Changes

AXS has been the topic of several research reports. Weiss Ratings upgraded Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 7th. UBS Group increased their price target on Axis Capital from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Mizuho lifted their price objective on Axis Capital from $137.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price objective on Axis Capital from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Finally, Atlantic Securities set a $122.00 price objective on shares of Axis Capital in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.45.

Axis Capital Price Performance

The business’s 50 day moving average is $103.24 and its two-hundred day moving average is $102.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $8.55 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 3.40 and a beta of 0.49.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business posted $3.17 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Axis Capital Holdings Limited will post 13.2 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 30th. Axis Capital’s payout ratio is presently 13.11%.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the sale, the director owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. This represents a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC increased its position in shares of Axis Capital by 5.0% during the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock valued at $202,000 after buying an additional 100 shares during the period. Truist Financial Corp lifted its holdings in shares of Axis Capital by 2.3% in the fourth quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock worth $492,000 after buying an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Axis Capital by 2.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock valued at $577,000 after acquiring an additional 107 shares during the period. Stifel Financial Corp boosted its position in shares of Axis Capital by 0.3% in the fourth quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock valued at $3,975,000 after acquiring an additional 122 shares during the period. Finally, Evoke Wealth LLC grew its stake in Axis Capital by 6.0% during the fourth quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider’s stock valued at $304,000 after acquiring an additional 161 shares in the last quarter. 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.