AXIS Capital Holdings Limited (NYSE:AXS) has been given an average rating of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $58.00.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, September 17th. Morgan Stanley decreased their price target on shares of AXIS Capital from $57.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, October 15th. JMP Securities reaffirmed a “hold” rating on shares of AXIS Capital in a research note on Wednesday, August 25th. Finally, Jefferies Financial Group began coverage on shares of AXIS Capital in a research note on Thursday, November 18th. They set a “buy” rating and a $65.00 price target for the company.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its holdings in AXIS Capital by 29.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,683 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 379 shares during the last quarter. Marshall Wace LLP grew its holdings in AXIS Capital by 1,488.4% in the first quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock worth $172,000 after purchasing an additional 2,947 shares during the last quarter. Hoylecohen LLC purchased a new position in AXIS Capital in the third quarter worth $215,000. AQR Capital Management LLC purchased a new position in AXIS Capital in the first quarter worth $219,000. Finally, Verition Fund Management LLC purchased a new position in AXIS Capital in the third quarter worth $271,000. 89.87% of the stock is currently owned by institutional investors and hedge funds.
AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Tuesday, October 26th. The insurance provider reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.58. The business had revenue of $996.47 million during the quarter, compared to the consensus estimate of $909.45 million. AXIS Capital had a net margin of 8.00% and a return on equity of 5.65%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.77) earnings per share. On average, sell-side analysts predict that AXIS Capital will post 4.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Monday, October 4th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Friday, October 1st. AXIS Capital’s payout ratio is 37.09%.
About AXIS Capital
AXIS Capital Holdings Ltd. engages in the provision of various insurance and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, political risk, professional lines, liability, and accident, and health insurance products.
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