Axis Capital Holdings Limited (AXS) Receives Average Recommendation of “Hold” from Brokerages

Shares of Axis Capital Holdings Limited (NYSE:AXS) have earned an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $60.22.

A number of analysts recently issued reports on AXS shares. Zacks Investment Research lowered Axis Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 27th. TheStreet lowered Axis Capital from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. Wells Fargo & Co set a $54.00 price objective on Axis Capital and gave the company a “sell” rating in a research note on Thursday, October 26th. UBS Group upgraded Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Thursday, January 11th. Finally, MKM Partners decreased their price objective on Axis Capital from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th.

Shares of Axis Capital (AXS) opened at $49.16 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51. Axis Capital has a one year low of $47.99 and a one year high of $71.06. The stock has a market capitalization of $4,142.15, a price-to-earnings ratio of -9.83, a P/E/G ratio of 1.28 and a beta of 0.48.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Axis Capital had a negative net margin of 8.04% and a negative return on equity of 4.39%. The company had revenue of $729.42 million for the quarter, compared to the consensus estimate of $549.41 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. research analysts anticipate that Axis Capital will post 4.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.39 dividend. This is a positive change from Axis Capital’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Thursday, December 28th. Axis Capital’s dividend payout ratio is currently -31.20%.

In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the company’s 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 approximately $315,272.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AXS. Toronto Dominion Bank increased its stake in Axis Capital by 237.6% in the 3rd quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 2,514 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Axis Capital in the 2nd quarter worth about $207,000. Magnetar Financial LLC bought a new position in Axis Capital in the 3rd quarter worth about $224,000. Levin Capital Strategies L.P. bought a new position in Axis Capital in the 4th quarter worth about $226,000. Finally, Crossmark Global Holdings Inc. bought a new position in Axis Capital in the 3rd quarter worth about $256,000. Institutional investors and hedge funds own 85.27% 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.

Analyst Recommendations for Axis Capital (NYSE:AXS)

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