Axis Capital (NYSE:AXS) Reaches New 12-Month High – Still a Buy?

Axis Capital Holdings Limited (NYSE:AXS) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $116.92 and last traded at $116.7890, with a volume of 60144 shares. The stock had previously closed at $114.62.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AXS shares. Weiss Ratings raised shares of Axis Capital from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on Axis Capital from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Mizuho increased their price target on Axis Capital from $137.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. UBS Group upped their price objective on Axis Capital from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Atlantic Securities set a $122.00 price target on shares of Axis Capital in a research report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.45.

Axis Capital Price Performance

The firm has a 50 day moving average price of $105.19 and a two-hundred day moving average price of $102.95. The company has a market cap of $8.58 billion, a P/E ratio of 8.68, a P/E/G ratio of 3.40 and a beta of 0.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.33 by $0.09. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 earnings per share. On average, analysts predict that Axis Capital Holdings Limited will post 13.23 EPS for the current fiscal year.

Axis Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 30th. Axis Capital’s dividend payout ratio is presently 13.11%.

Insider Activity at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares of the company’s stock, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Axis Capital

Several institutional investors have recently made changes to their positions in AXS. Activest Wealth Management purchased a new position in shares of Axis Capital in the fourth quarter valued at $30,000. Assetmark Inc. grew its stake in Axis Capital by 80.8% during the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Axis Capital during the first quarter valued at approximately $43,000. Fideuram Asset Management Ireland dac bought a new stake in Axis Capital during the 4th quarter worth approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in Axis Capital during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

About Axis Capital

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.