Axis Capital (AXS) Stock Rating Reaffirmed by Wells Fargo & Co

Axis Capital (NYSE:AXS)‘s stock had its “hold” rating restated by equities research analysts at Wells Fargo & Co in a research report issued to clients and investors on Wednesday, February 7th. They presently have a $52.00 price target on the insurance provider’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 2.91% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. UBS Group upgraded Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 target price on the stock in a report on Thursday, January 11th. ValuEngine upgraded Axis Capital from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research cut Axis Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 27th. Morgan Stanley decreased their price objective on Axis Capital from $70.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 31st. Finally, TheStreet cut Axis Capital from a “b-” rating to a “c” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $60.22.

Shares of Axis Capital (AXS) traded up $0.14 during trading hours on Wednesday, reaching $50.53. The company’s stock had a trading volume of 439,786 shares, compared to its average volume of 917,799. The firm has a market cap of $4,091.42, a PE ratio of -10.10, a PEG ratio of 1.34 and a beta of 0.48. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.21. Axis Capital has a 52-week low of $47.99 and a 52-week high of $71.06.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The company had revenue of $729.42 million for the quarter, compared to analyst estimates of $549.41 million. Axis Capital had a negative net margin of 8.04% and a negative return on equity of 4.39%. Axis Capital’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. equities analysts anticipate that Axis Capital will post 4.32 EPS for the current year.

In other news, EVP Conrad D. Brooks sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was 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 in the company, valued at $315,272.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Axis Capital in the fourth quarter valued at $862,000. LPL Financial LLC boosted its holdings in Axis Capital by 442.4% in the fourth quarter. LPL Financial LLC now owns 31,850 shares of the insurance provider’s stock valued at $1,601,000 after acquiring an additional 25,978 shares during the last quarter. Crestline Management LP boosted its holdings in Axis Capital by 210.7% in the fourth quarter. Crestline Management LP now owns 38,111 shares of the insurance provider’s stock valued at $1,915,000 after acquiring an additional 25,843 shares during the last quarter. Millennium Management LLC boosted its holdings in Axis Capital by 420.6% in the fourth quarter. Millennium Management LLC now owns 642,759 shares of the insurance provider’s stock valued at $32,305,000 after acquiring an additional 519,283 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its holdings in Axis Capital by 109.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 38,108 shares of the insurance provider’s stock valued at $1,915,000 after acquiring an additional 19,936 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

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Axis Capital Company Profile

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 (NYSE:AXS)

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