Axis Capital Holdings Limited (AXS) Given New $58.00 Price Target at Citigroup Inc.
Axis Capital Holdings Limited (NYSE:AXS) had its target price trimmed by Citigroup Inc. from $59.00 to $58.00 in a research report released on Monday. The firm currently has a neutral rating on the insurance provider’s stock.
Other equities research analysts have also recently issued reports about the company. UBS AG decreased their price objective on Axis Capital Holdings Limited from $57.00 to $55.00 and set a sell rating for the company in a research note on Monday. Buckingham Research began coverage on Axis Capital Holdings Limited in a report on Monday, September 11th. They set a neutral rating and a $58.00 target price on the stock. ValuEngine lowered Axis Capital Holdings Limited from a buy rating to a hold rating in a report on Thursday, September 7th. Zacks Investment Research lowered Axis Capital Holdings Limited from a hold rating to a sell rating in a report on Tuesday, September 26th. Finally, Morgan Stanley restated an equal weight rating and issued a $70.00 price target (up from $68.00) on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $63.78.
Axis Capital Holdings Limited (NYSE:AXS) opened at 56.24 on Monday. Axis Capital Holdings Limited has a 52 week low of $52.15 and a 52 week high of $71.06. The company’s 50-day moving average price is $58.71 and its 200-day moving average price is $63.54. The company has a market capitalization of $4.68 billion, a P/E ratio of 12.41 and a beta of 0.59.
Axis Capital Holdings Limited (NYSE:AXS) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The firm had revenue of $956.02 million during the quarter, compared to analysts’ expectations of $989.95 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Axis Capital Holdings Limited will post $1.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 9th will be issued a dividend of $0.38 per share. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. This represents a $1.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, October 5th. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is presently 33.70%.
A number of institutional investors have recently modified their holdings of the business. Advisory Services Network LLC grew its stake in shares of Axis Capital Holdings Limited by 2.9% in the 2nd quarter. Advisory Services Network LLC now owns 8,111 shares of the insurance provider’s stock valued at $524,000 after buying an additional 225 shares during the period. Verition Fund Management LLC lifted its position in Axis Capital Holdings Limited by 78.1% in the 2nd quarter. Verition Fund Management LLC now owns 11,262 shares of the insurance provider’s stock valued at $728,000 after acquiring an additional 4,939 shares in the last quarter. Nomura Holdings Inc. bought a new position in Axis Capital Holdings Limited in the 2nd quarter valued at about $464,000. The Manufacturers Life Insurance Company bought a new position in Axis Capital Holdings Limited in the 2nd quarter valued at about $207,000. Finally, Caxton Associates LP bought a new position in Axis Capital Holdings Limited in the 2nd quarter valued at about $644,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.
About Axis Capital Holdings Limited
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.
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