UBS Group upgraded shares of Axis Capital (NYSE:AXS) from a sell rating to a neutral rating in a report published on Thursday morning, www.benzinga.com reports. They currently have $55.00 target price on the insurance provider’s stock.

A number of other research firms have also commented on AXS. Bank of America reduced their price target on Axis Capital from $73.00 to $67.00 and set a buy rating on the stock in a research report on Friday, October 13th. Zacks Investment Research upgraded Axis Capital from a sell rating to a hold rating in a research report on Friday, November 3rd. TheStreet lowered Axis Capital from a b- rating to a c rating in a research report on Wednesday, October 25th. ValuEngine lowered Axis Capital from a hold rating to a sell rating in a research report on Friday, October 6th. Finally, Wells Fargo & Co upgraded Axis Capital from an underperform rating to a market perform rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Axis Capital has an average rating of Hold and a consensus target price of $61.45.

Axis Capital (AXS) traded down $0.02 during midday trading on Thursday, hitting $49.11. The company’s stock had a trading volume of 968,856 shares, compared to its average volume of 700,081. Axis Capital has a 1 year low of $48.00 and a 1 year high of $71.06. The company has a market cap of $4,083.94, a price-to-earnings ratio of -16.05, a PEG ratio of 1.26 and a beta of 0.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.51 and a quick ratio of 0.51.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) EPS 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $972.10 million. During the same quarter last year, the firm posted $1.78 EPS. analysts forecast that Axis Capital will post -2.29 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Axis Capital’s payout ratio is currently -50.98%.

In other news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was 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 of the company’s stock, valued at approximately $315,272.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. NWQ Investment Management Company LLC raised its stake in Axis Capital by 23.8% during the 3rd quarter. NWQ Investment Management Company LLC now owns 1,234,639 shares of the insurance provider’s stock worth $70,757,000 after buying an additional 237,661 shares during the period. Northern Trust Corp raised its stake in Axis Capital by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,143,841 shares of the insurance provider’s stock worth $73,960,000 after buying an additional 14,526 shares during the period. Wells Fargo & Company MN raised its stake in Axis Capital by 0.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,097,922 shares of the insurance provider’s stock worth $62,922,000 after buying an additional 5,941 shares during the period. Bessemer Group Inc. raised its stake in Axis Capital by 2,474.1% during the 3rd quarter. Bessemer Group Inc. now owns 819,192 shares of the insurance provider’s stock worth $46,948,000 after buying an additional 787,368 shares during the period. Finally, Swiss National Bank raised its stake in Axis Capital by 0.3% during the 3rd quarter. Swiss National Bank now owns 759,346 shares of the insurance provider’s stock worth $43,518,000 after buying an additional 2,000 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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About Axis Capital

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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