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.
ILLEGAL ACTIVITY WARNING: This news story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/04/axis-capital-axs-upgraded-at-wells-fargo-co.html.
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.
Receive News & Ratings for Axis Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital and related companies with MarketBeat.com's FREE daily email newsletter.