Axis Capital (AXS) Raised to “Hold” at ValuEngine

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.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.34) by ($0.01). Axis Capital had a negative return on equity of 2.59% and a negative net margin of 4.55%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $972.10 million. During the same period in the previous year, the firm earned $1.78 EPS. research analysts forecast that Axis Capital will post -2.21 earnings per share for the current year.

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.

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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.

Analyst Recommendations for Axis Capital (NYSE:AXS)

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