Axis Capital Holdings Ltd. (NYSE:AXS) Receives Average Rating of “Hold” from Analysts
Shares of Axis Capital Holdings Ltd. (NYSE:AXS) have been given an average rating of “Hold” by the eight brokerages that are currently covering the company. Eight investment analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have covered the stock in the last year is $58.67.
A number of research firms have issued reports on AXS. Zacks Investment Research lowered shares of Axis Capital Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Morgan Stanley boosted their target price on shares of Axis Capital Holdings from $59.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Axis Capital Holdings in a research note on Tuesday, June 21st.
Shares of Axis Capital Holdings (NYSE:AXS) traded up 3.04% on Friday, hitting $55.89. 226,676 shares of the stock were exchanged. The firm’s 50-day moving average is $55.55 and its 200-day moving average is $54.73. The company has a market cap of $5.07 billion, a P/E ratio of 9.91 and a beta of 0.73. Axis Capital Holdings has a one year low of $51.01 and a one year high of $57.98.
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Axis Capital Holdings (NYSE:AXS) last posted its earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $983.53 million. Axis Capital Holdings had a net margin of 14.19% and a return on equity of 6.44%. Axis Capital Holdings’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, equities analysts forecast that Axis Capital Holdings will post $3.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 2.58%. This is a positive change from Axis Capital Holdings’s previous quarterly dividend of $0.29. Axis Capital Holdings’s dividend payout ratio is currently 25.04%.
In other Axis Capital Holdings news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $56.15, for a total transaction of $583,960.00. Following the sale, the executive vice president now owns 15,958 shares of the company’s stock, valued at approximately $896,041.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently modified their holdings of AXS. BNP Paribas Arbitrage SA raised its position in shares of Axis Capital Holdings by 10.1% in the third quarter. BNP Paribas Arbitrage SA now owns 16,122 shares of the company’s stock valued at $876,000 after buying an additional 1,474 shares during the period. Calvert Investment Management Inc. acquired a new position in shares of Axis Capital Holdings during the second quarter valued at about $395,000. Legal & General Group Plc raised its position in shares of Axis Capital Holdings by 1.0% in the second quarter. Legal & General Group Plc now owns 596,961 shares of the company’s stock valued at $32,793,000 after buying an additional 5,647 shares during the period. Numeric Investors LLC raised its position in shares of Axis Capital Holdings by 15.9% in the second quarter. Numeric Investors LLC now owns 1,494,372 shares of the company’s stock valued at $82,190,000 after buying an additional 205,139 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Axis Capital Holdings by 14.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 30,000 shares of the company’s stock valued at $1,650,000 after buying an additional 3,700 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
Axis Capital Holdings Company Profile
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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