Axis Capital (NYSE:AXS) Coverage Initiated at Royal Bank Of Canada

Research analysts at Royal Bank Of Canada began coverage on shares of Axis Capital (NYSE:AXS) in a report released on Monday, MarketBeat reports. The firm set an “outperform” rating and a $125.00 price target on the insurance provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 23.23% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on AXS. Weiss Ratings restated a “buy (b)” rating on shares of Axis Capital in a report on Wednesday, November 19th. Compass Point set a $121.00 target price on Axis Capital in a report on Monday. UBS Group upped their price target on Axis Capital from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Axis Capital from $119.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of Axis Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.00.

Axis Capital Stock Up 1.3%

Shares of AXS traded up $1.28 during trading hours on Monday, hitting $101.44. 115,188 shares of the company were exchanged, compared to its average volume of 705,069. The firm’s 50 day moving average is $96.07 and its 200-day moving average is $98.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 0.69. Axis Capital has a 52 week low of $83.90 and a 52 week high of $107.19. The company has a market cap of $7.81 billion, a PE ratio of 8.38, a PEG ratio of 1.06 and a beta of 0.73.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a return on equity of 19.25% and a net margin of 16.08%.The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that Axis Capital will post 11.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Axis Capital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Axis Capital during the second quarter worth approximately $100,683,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Axis Capital by 95.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,852,398 shares of the insurance provider’s stock worth $185,685,000 after acquiring an additional 903,107 shares in the last quarter. AQR Capital Management LLC grew its position in Axis Capital by 22.3% during the 1st quarter. AQR Capital Management LLC now owns 3,290,411 shares of the insurance provider’s stock worth $328,580,000 after acquiring an additional 600,901 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Axis Capital during the 3rd quarter valued at $56,705,000. Finally, Altrinsic Global Advisors LLC raised its position in Axis Capital by 47.7% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock valued at $188,662,000 after purchasing an additional 586,576 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.