Axis Capital Holdings Limited (NYSE:AXS) had its target price lowered by Bank of America Corporation from $73.00 to $67.00 in a research report report published on Friday. The firm currently has a buy rating on the insurance provider’s stock.

AXS has been the topic of several other reports. Zacks Investment Research cut shares of Axis Capital Holdings Limited from a buy rating to a hold rating in a research report on Wednesday, July 12th. ValuEngine cut shares of Axis Capital Holdings Limited from a buy rating to a hold rating in a research report on Thursday, September 7th. Wells Fargo & Company reiterated a sell rating on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reiterated a hold rating and set a $67.00 price objective on shares of Axis Capital Holdings Limited in a research report on Friday, August 18th. Finally, Morgan Stanley reiterated an equal weight rating and set a $70.00 price objective (up from $68.00) on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Axis Capital Holdings Limited currently has a consensus rating of Hold and an average price target of $64.10.

Shares of Axis Capital Holdings Limited (NYSE AXS) traded up 3.38% during midday trading on Friday, reaching $57.76. The company’s stock had a trading volume of 1,297,835 shares. Axis Capital Holdings Limited has a 12 month low of $52.15 and a 12 month high of $71.06. The stock’s 50 day moving average is $57.51 and its 200 day moving average is $63.08. The stock has a market capitalization of $4.80 billion, a PE ratio of 12.74 and a beta of 0.59.

Axis Capital Holdings Limited (NYSE:AXS) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.12. The company had revenue of $956.02 million for the quarter, compared to analysts’ expectations of $989.95 million. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, analysts forecast that Axis Capital Holdings Limited will post $0.15 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 9th will be issued a dividend of $0.38 per share. This is a boost from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, October 5th. Axis Capital Holdings Limited’s payout ratio is currently 33.70%.

Several institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC grew its holdings in shares of Axis Capital Holdings Limited by 2.9% during the 2nd quarter. Advisory Services Network LLC now owns 8,111 shares of the insurance provider’s stock valued at $524,000 after acquiring an additional 225 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Axis Capital Holdings Limited by 78.1% during 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. purchased a new position in shares of Axis Capital Holdings Limited during the 2nd quarter valued at $464,000. The Manufacturers Life Insurance Company purchased a new position in shares of Axis Capital Holdings Limited during the 2nd quarter valued at $207,000. Finally, Caxton Associates LP purchased a new position in shares of Axis Capital Holdings Limited during the 2nd quarter valued at $644,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Axis Capital Holdings Limited Company Profile

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 Holdings Limited (NYSE:AXS)

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