Axis Capital (NYSE:AXS) has been assigned a $52.00 target price by Wells Fargo & Co in a research note issued on Wednesday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s target price indicates a potential upside of 5.22% from the stock’s previous close.
Several other brokerages have also issued reports on AXS. UBS Group raised Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 target price for the company in a research report on Thursday, January 11th. Bank of America decreased their target price on Axis Capital from $73.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Zacks Investment Research raised Axis Capital from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. TheStreet lowered Axis Capital from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. Finally, ValuEngine lowered Axis Capital from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $61.27.
Shares of Axis Capital (NYSE:AXS) traded up $0.31 during trading on Wednesday, hitting $49.42. The stock had a trading volume of 582,500 shares, compared to its average volume of 811,450. Axis Capital has a 1 year low of $48.00 and a 1 year high of $71.06. The stock has a market cap of $4,083.94, a price-to-earnings ratio of -16.15, a PEG ratio of 1.26 and a beta of 0.58. 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 (NYSE:AXS) last announced its earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.34) by ($0.01). Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $972.10 million. During the same period in the prior year, the business earned $1.78 earnings per share. equities analysts forecast that Axis Capital will post -2.29 EPS for the current fiscal year.
In related news, EVP Conrad D. Brooks sold 7,500 shares of Axis Capital 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 completion of the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at approximately $315,272.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.89% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors Inc. increased its holdings in Axis Capital by 14.7% in the 4th quarter. Wasatch Advisors Inc. now owns 78,802 shares of the insurance provider’s stock worth $3,961,000 after acquiring an additional 10,110 shares during the last quarter. Kempner Capital Management Inc. bought a new position in Axis Capital in the 4th quarter worth about $3,410,000. Belpointe Asset Management LLC bought a new position in Axis Capital in the 3rd quarter worth about $1,513,000. California Public Employees Retirement System boosted its stake in Axis Capital by 4.2% in the 3rd quarter. California Public Employees Retirement System now owns 333,652 shares of the insurance provider’s stock worth $19,122,000 after purchasing an additional 13,407 shares during the period. Finally, Crestline Management LP bought a new position in Axis Capital in the 3rd quarter worth about $703,000. 87.51% of the stock is owned by institutional investors.
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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.
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