AXIS Capital (NYSE:AXS) Price Target Raised to $115.00

AXIS Capital (NYSE:AXS) had its target price lifted by analysts at Keefe, Bruyette & Woods from $110.00 to $115.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 27.26% from the company’s current price.

AXS has been the topic of several other reports. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Bank of America increased their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.88.

AXIS Capital Stock Performance

Shares of AXS opened at $90.37 on Wednesday. The stock has a 50 day moving average of $90.06 and a 200 day moving average of $82.88. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a 12 month low of $56.93 and a 12 month high of $94.89. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 3.87 and a beta of 0.95.

AXIS Capital (NYSE:AXS) last released its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. As a group, sell-side analysts forecast that AXIS Capital will post 11.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles A. Davis sold 2,234,636 shares of AXIS Capital stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the transaction, the director now owns 4,543,170 shares in the company, valued at $406,613,715. This trade represents a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXS. Franklin Resources Inc. lifted its position in AXIS Capital by 48.6% in the 3rd quarter. Franklin Resources Inc. now owns 371,557 shares of the insurance provider’s stock valued at $30,070,000 after acquiring an additional 121,437 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of AXIS Capital in the 3rd quarter worth about $638,000. Verition Fund Management LLC bought a new position in AXIS Capital during the third quarter valued at $453,000. Entropy Technologies LP purchased a new stake in AXIS Capital in the third quarter worth $507,000. Finally, Jennison Associates LLC increased its position in shares of AXIS Capital by 24.4% during the third quarter. Jennison Associates LLC now owns 1,625,057 shares of the insurance provider’s stock worth $129,371,000 after acquiring an additional 318,784 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.