Axis Capital Holdings Limited (NYSE:AXS)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a report issued on Thursday. They currently have a $70.00 target price on the insurance provider’s stock, up from their previous target price of $68.00. Morgan Stanley’s price objective would indicate a potential upside of 10.18% from the stock’s current price.

AXS has been the topic of several other research reports. Zacks Investment Research downgraded shares of Axis Capital Holdings Limited from a “hold” rating to a “strong sell” rating in a report on Monday, May 8th. Citigroup Inc. upped their price objective on shares of Axis Capital Holdings Limited from $60.00 to $61.00 and gave the stock a “sell” rating in a report on Friday, April 7th. ValuEngine upgraded shares of Axis Capital Holdings Limited from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, Deutsche Bank AG restated a “hold” rating and set a $64.00 price objective (down previously from $66.00) on shares of Axis Capital Holdings Limited in a report on Wednesday, March 15th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.50.

Shares of Axis Capital Holdings Limited (NYSE AXS) traded down 3.38% during midday trading on Thursday, hitting $63.53. 1,054,442 shares of the company were exchanged. Axis Capital Holdings Limited has a one year low of $52.67 and a one year high of $71.06. The firm’s 50 day moving average price is $64.49 and its 200 day moving average price is $66.02. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 13.19 and a beta of 0.60.

Axis Capital Holdings Limited (NYSE:AXS) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.22. Axis Capital Holdings Limited had a net margin of 11.74% and a return on equity of 7.86%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Analysts forecast that Axis Capital Holdings Limited will post $3.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.39%. Axis Capital Holdings Limited’s dividend payout ratio is currently 31.73%.

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Several hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its stake in shares of Axis Capital Holdings Limited by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock valued at $188,000 after buying an additional 400 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Axis Capital Holdings Limited by 31.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,900 shares of the insurance provider’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Assetmark Inc. increased its stake in shares of Axis Capital Holdings Limited by 5.0% in the first quarter. Assetmark Inc. now owns 3,347 shares of the insurance provider’s stock valued at $224,000 after buying an additional 158 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of Axis Capital Holdings Limited during the first quarter valued at approximately $244,000. Finally, Breton Hill Capital Ltd. purchased a new stake in shares of Axis Capital Holdings Limited during the first quarter valued at approximately $257,000. Institutional investors own 88.44% of the company’s stock.

About Axis Capital Holdings Limited

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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