MKM Partners Lowers Axis Capital Holdings Limited (AXS) Price Target to $70.00

Axis Capital Holdings Limited (NYSE:AXS) had its price objective dropped by equities researchers at MKM Partners from $80.00 to $70.00 in a research report issued to clients and investors on Wednesday, October 18th. The firm currently has a “buy” rating on the insurance provider’s stock. MKM Partners’ price objective would indicate a potential upside of 29.25% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Bank of America Corporation reduced their price target on Axis Capital Holdings Limited from $73.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 13th. ValuEngine cut Axis Capital Holdings Limited from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Citigroup Inc. reduced their price target on Axis Capital Holdings Limited from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, October 2nd. UBS AG reduced their price objective on Axis Capital Holdings Limited from $57.00 to $55.00 and set a “sell” rating for the company in a report on Monday, October 2nd. Finally, Zacks Investment Research cut Axis Capital Holdings Limited from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $62.27.

Shares of Axis Capital Holdings Limited (NYSE:AXS) traded down 1.15% during midday trading on Wednesday, hitting $54.16. The company had a trading volume of 825,263 shares. Axis Capital Holdings Limited has a 12 month low of $52.15 and a 12 month high of $71.06. The stock’s 50-day moving average price is $56.90 and its 200-day moving average price is $62.34. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 11.95 and a beta of 0.59.

Axis Capital Holdings Limited (NYSE:AXS) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.34) by ($0.01). Axis Capital Holdings Limited had a negative net margin of 4.55% and a negative return on equity of 2.54%. 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 posted $1.78 EPS. On average, equities research analysts forecast that Axis Capital Holdings Limited will post ($2.24) EPS for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in Axis Capital Holdings Limited during the second quarter valued at approximately $150,000. BlueMountain Capital Management LLC raised its position in Axis Capital Holdings Limited by 62.0% during the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 979 shares in the last quarter. Quantbot Technologies LP acquired a new position in Axis Capital Holdings Limited during the second quarter valued at approximately $203,000. The Manufacturers Life Insurance Company acquired a new position in shares of Axis Capital Holdings Limited during the second quarter worth $207,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Axis Capital Holdings Limited during the third quarter worth $256,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Axis Capital Holdings Limited 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 Holdings Limited (NYSE:AXS)

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