ValuEngine upgraded shares of Axis Capital (NYSE:AXS) from a sell rating to a hold rating in a report released on Sunday morning.
AXS has been the topic of a number of other research reports. Bank of America cut their price objective on shares of 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 raised shares of Axis Capital from a sell rating to a hold rating in a research report on Friday, November 3rd. Morgan Stanley cut their price objective on shares of Axis Capital from $70.00 to $61.00 and set an equal weight rating on the stock in a research report on Tuesday, October 31st. Citigroup cut their price objective on shares of Axis Capital from $59.00 to $58.00 and set a neutral rating on the stock in a research report on Monday, October 2nd. Finally, TheStreet downgraded shares of Axis Capital from a b- rating to a c rating in a research report on Wednesday, October 25th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $61.45.
Axis Capital (NYSE:AXS) opened at $49.27 on Friday. 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 has a 12-month low of $49.13 and a 12-month high of $71.06. The stock has a market cap of $4,179.57, a P/E ratio of -16.10, a PEG ratio of 1.29 and a beta of 0.58.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, December 28th. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. Axis Capital’s payout ratio is currently -50.98%.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total transaction of $392,325.00. Following the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at approximately $315,272.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in AXS. NWQ Investment Management Company LLC lifted 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 valued at $70,757,000 after acquiring an additional 237,661 shares during the period. Northern Trust Corp lifted 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 valued at $73,960,000 after acquiring an additional 14,526 shares during the period. Wells Fargo & Company MN lifted 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 valued at $62,922,000 after acquiring an additional 5,941 shares during the period. Bessemer Group Inc. lifted 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 valued at $46,948,000 after acquiring an additional 787,368 shares during the period. Finally, Swiss National Bank lifted 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 valued at $43,518,000 after acquiring an additional 2,000 shares during the period. 87.33% of the stock is currently owned by institutional investors.
WARNING: This article was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.chaffeybreeze.com/2018/01/03/axis-capital-axs-raised-to-hold-at-valuengine.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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.