Axis Capital (AXS) PT Set at $52.00 by Wells Fargo & Co
Axis Capital (NYSE:AXS) received a $52.00 price target from equities research analysts at Wells Fargo & Co in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s price target would indicate a potential upside of 5.22% from the stock’s current price.
Other analysts have also recently issued research reports about the company. UBS Group raised Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price target for the company in a research report on Thursday, January 11th. Zacks Investment Research cut Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. TheStreet cut Axis Capital from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. MKM Partners reduced their price target on Axis Capital from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Finally, ValuEngine raised Axis Capital from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.27.
Shares of Axis Capital (NYSE AXS) traded up $0.31 during trading hours on Wednesday, hitting $49.42. The company’s stock had a trading volume of 582,500 shares, compared to its average volume of 811,450. Axis Capital has a 12 month low of $48.00 and a 12 month high of $71.06. The firm has a market capitalization of $4,083.94, a PE ratio of -16.15, a P/E/G ratio of 1.26 and a beta of 0.58. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.21.
Axis Capital (NYSE:AXS) last announced its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share 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 company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $972.10 million. During the same period in the prior year, the firm earned $1.78 EPS. equities analysts forecast that Axis Capital will post -2.29 earnings per share for the current fiscal year.
In other news, EVP Conrad D. Brooks sold 7,500 shares of Axis Capital stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.31, for a total value of $392,325.00. Following the transaction, the executive vice president now directly owns 6,027 shares in the company, valued at $315,272.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.89% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. NWQ Investment Management Company LLC increased its stake in Axis Capital by 23.8% during the third 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 increased its stake in Axis Capital by 1.3% during the second 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 increased its stake in Axis Capital by 0.5% during the third 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. increased its stake in Axis Capital by 2,474.1% during the third 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 increased its stake in Axis Capital by 0.3% during the third 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. Institutional investors and hedge funds own 87.51% of the company’s stock.
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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.
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