Axis Capital (NYSE:AXS) Raised to “Market Perform” at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Axis Capital (NYSE:AXS) from an underperform rating to a market perform rating in a research report released on Tuesday, January 9th, MarketBeat.com reports.

A number of other analysts have also recently issued reports on AXS. Citigroup raised Axis Capital from a sell rating to a neutral rating and set a $59.00 target price for the company in a research report on Monday, September 11th. Buckingham Research assumed coverage on Axis Capital in a research report on Monday, September 11th. They set a neutral rating and a $58.00 price objective for the company. UBS Group cut their target price on Axis Capital from $62.00 to $57.00 and set a sell rating for the company in a research note on Tuesday, September 19th. Zacks Investment Research downgraded Axis Capital from a hold rating to a sell rating in a research note on Tuesday, September 26th. Finally, ValuEngine downgraded Axis Capital from a hold rating to a sell rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $61.33.

Axis Capital (NYSE:AXS) opened at $50.17 on Tuesday. The company has a market capitalization of $4,172.09, a PE ratio of -16.40, a PEG ratio of 1.31 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.51 and a quick ratio of 0.51. Axis Capital has a 1-year low of $47.98 and a 1-year high of $71.06.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a dividend of $0.39 per share. This is a boost from Axis Capital’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. Axis Capital’s dividend payout ratio (DPR) is -50.98%.

In other news, EVP Conrad D. Brooks sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $52.31, for a total transaction of $392,325.00. Following the sale, the executive vice president now owns 6,027 shares in the company, valued at $315,272.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. BlueMountain Capital Management LLC boosted its holdings in Axis Capital by 62.0% in the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 979 shares during the last quarter. Quantbot Technologies LP acquired a new position in Axis Capital in the second quarter valued at $203,000. Toronto Dominion Bank lifted its stake in shares of Axis Capital by 237.6% during the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 2,514 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Axis Capital during the second quarter worth about $207,000. Finally, Magnetar Financial LLC acquired a new position in shares of Axis Capital during the third quarter worth about $224,000. Hedge funds and other institutional investors own 87.44% 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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