Axis Capital (NYSE:AXS) Sets New 1-Year High After Analyst Upgrade

Axis Capital Holdings Limited (NYSE:AXS)’s share price hit a new 52-week high during trading on Tuesday after Mizuho upgraded the stock to a strong-buy rating. The company traded as high as $107.83 and last traded at $107.54, with a volume of 17369 shares changing hands. The stock had previously closed at $106.46.

Several other research analysts have also recently commented on the stock. Compass Point set a $121.00 price target on shares of Axis Capital in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axis Capital in a research note on Monday, December 8th. Royal Bank Of Canada initiated coverage on Axis Capital in a report on Monday, November 24th. They issued an “outperform” rating and a $125.00 target price on the stock. UBS Group increased their target price on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $123.00 price target on Axis Capital and gave the stock an “overweight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

Institutional Investors Weigh In On Axis Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in Axis Capital in the third quarter valued at $29,000. Smithfield Trust Co lifted its holdings in shares of Axis Capital by 94.0% in the 2nd quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Axis Capital in the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Axis Capital in the 2nd quarter valued at about $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Axis Capital during the 3rd quarter worth approximately $43,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $98.23 and a 200 day simple moving average of $98.21. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.04 and a beta of 0.65.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.53. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $2.71 EPS. Axis Capital’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Axis Capital’s dividend payout ratio (DPR) is presently 14.55%.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.