Axis Capital (NYSE:AXS) Earns “Neutral” Rating from Bank of America

Axis Capital (NYSE:AXS)‘s stock had its “neutral” rating reissued by analysts at Bank of America in a research note issued on Tuesday, Marketbeat reports. They presently have a $115.00 target price on the insurance provider’s stock, down from their prior target price of $116.00. Bank of America‘s price objective would indicate a potential upside of 11.39% from the company’s previous close.

AXS has been the subject of several other research reports. Compass Point set a $121.00 price objective on Axis Capital in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Axis Capital in a research report on Monday, December 29th. Royal Bank Of Canada began coverage on shares of Axis Capital in a report on Monday, November 24th. They issued an “outperform” rating and a $125.00 price target on the stock. Mizuho initiated coverage on shares of Axis Capital in a report on Monday, December 15th. They set an “outperform” rating and a $133.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on Axis Capital from $119.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.90.

Axis Capital Stock Up 0.2%

Shares of NYSE:AXS opened at $103.24 on Tuesday. The firm has a fifty day moving average price of $102.45 and a two-hundred day moving average price of $98.63. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. Axis Capital has a one year low of $83.90 and a one year high of $110.34.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.53. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.33 billion. Axis Capital had a return on equity of 18.99% and a net margin of 16.08%.The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. Analysts anticipate that Axis Capital will post 11.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of Axis Capital by 12.4% in the first quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider’s stock worth $6,361,000 after buying an additional 7,023 shares during the period. Millennium Management LLC lifted its position in Axis Capital by 76.3% in the first quarter. Millennium Management LLC now owns 212,241 shares of the insurance provider’s stock valued at $21,275,000 after purchasing an additional 91,866 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in shares of Axis Capital during the first quarter valued at approximately $223,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Axis Capital in the first quarter worth approximately $620,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Axis Capital by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider’s stock worth $20,605,000 after buying an additional 12,680 shares during the period. 93.44% of the stock is owned by institutional investors.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.