AXIS Capital (NYSE:AXS) Given New $100.00 Price Target at Wells Fargo & Company

AXIS Capital (NYSE:AXS) had its target price hoisted by Wells Fargo & Company from $97.00 to $100.00 in a research note released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on AXS. JMP Securities restated a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. StockNews.com downgraded AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday, April 4th. BMO Capital Markets assumed coverage on AXIS Capital in a report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. UBS Group raised their price objective on AXIS Capital from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of AXIS Capital from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.75.

AXIS Capital Price Performance

Shares of AXS stock opened at $91.35 on Thursday. AXIS Capital has a twelve month low of $60.45 and a twelve month high of $101.42. The company has a market capitalization of $7.19 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $93.91 and a 200-day simple moving average of $88.97.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Equities research analysts anticipate that AXIS Capital will post 11.19 earnings per share for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, March 31st. AXIS Capital’s dividend payout ratio (DPR) is 14.25%.

Insider Transactions at AXIS Capital

In other news, Director Charles A. Davis sold 2,139,037 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the sale, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AXS. NBC Securities Inc. acquired a new position in shares of AXIS Capital in the 1st quarter worth approximately $33,000. Steward Partners Investment Advisory LLC acquired a new position in AXIS Capital in the fourth quarter worth approximately $53,000. Versant Capital Management Inc grew its position in AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of AXIS Capital by 73.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider’s stock valued at $59,000 after buying an additional 285 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of AXIS Capital during the 4th quarter valued at $60,000. 93.44% of the stock is owned by institutional investors and hedge funds.

AXIS Capital Company Profile

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.