Axis Capital (AXS) Upgraded to “Neutral” by UBS Group
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.
TRADEMARK VIOLATION WARNING: This piece of content was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/axis-capital-axs-upgraded-to-neutral-by-ubs-group/1807360.html.
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.
Receive News & Ratings for Axis Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital and related companies with MarketBeat.com's FREE daily email newsletter.