Wells Fargo & Company reiterated their sell rating on shares of Axis Capital Holdings Limited (NYSE:AXS) in a research report sent to investors on Thursday morning.

“FFO/sh. Beat. 2Q FFO/sh. was $1.48 vs. Cantor/consensus (FactSet) $1.43/ $1.44. The variance to the estimates includes lower NOI offset by lower G&A and interest expense.”,” Wells Fargo & Company’s analyst commented.

A number of other analysts have also recently commented on the company. Citigroup Inc. upped their price objective on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a sell rating in a research report on Thursday, July 13th. Zacks Investment Research cut Axis Capital Holdings Limited from a buy rating to a hold rating in a research report on Wednesday, July 12th. Morgan Stanley reiterated an equal weight rating and set a $70.00 price objective (up previously from $68.00) on shares of Axis Capital Holdings Limited in a research report on Thursday, July 6th. BidaskClub cut Axis Capital Holdings Limited from a sell rating to a strong sell rating in a research report on Saturday, June 24th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $64.00 price objective on shares of Axis Capital Holdings Limited in a research report on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $66.78.

Axis Capital Holdings Limited (NYSE:AXS) opened at 63.88 on Thursday. The company has a market cap of $5.32 billion, a P/E ratio of 14.10 and a beta of 0.60. The stock’s 50 day moving average price is $64.57 and its 200 day moving average price is $65.90. Axis Capital Holdings Limited has a 1-year low of $53.66 and a 1-year high of $71.06.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.13% 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 quarter in the previous year, the business earned $0.51 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Axis Capital Holdings Limited will post $3.93 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, June 28th. Axis Capital Holdings Limited’s dividend payout ratio (DPR) is presently 33.70%.

A number of hedge funds have recently modified their holdings of the company. Breton Hill Capital Ltd. bought a new stake in shares of Axis Capital Holdings Limited during the first quarter worth approximately $257,000. Shell Asset Management Co. boosted its stake in shares of Axis Capital Holdings Limited by 12.2% in the first quarter. Shell Asset Management Co. now owns 141,113 shares of the insurance provider’s stock worth $9,459,000 after buying an additional 15,309 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Axis Capital Holdings Limited by 7.8% in the first quarter. ProShare Advisors LLC now owns 13,024 shares of the insurance provider’s stock worth $873,000 after buying an additional 941 shares during the last quarter. PGGM Investments boosted its stake in shares of Axis Capital Holdings Limited by 104.5% in the first quarter. PGGM Investments now owns 124,540 shares of the insurance provider’s stock worth $8,348,000 after buying an additional 63,652 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in shares of Axis Capital Holdings Limited during the first quarter worth approximately $357,000. Institutional investors and hedge funds own 88.23% 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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