Wells Fargo & Company Issues Positive Forecast for Axis Capital (NYSE:AXS) Stock Price

Axis Capital (NYSE:AXS) had its price target increased by Wells Fargo & Company from $121.00 to $123.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

AXS has been the subject of several other reports. Royal Bank Of Canada upped their price target on Axis Capital from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Axis Capital in a research note on Thursday, January 29th. Bank of America dropped their price target on Axis Capital from $119.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $110.00 price target on shares of Axis Capital in a research note on Wednesday, January 7th. Finally, UBS Group restated a “buy” rating on shares of Axis Capital in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Axis Capital currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Axis Capital Trading Down 0.5%

Shares of NYSE:AXS opened at $102.35 on Thursday. The stock has a 50 day moving average of $102.52 and a 200 day moving average of $100.81. The company has a market cap of $7.58 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.24. Axis Capital has a 12-month low of $88.07 and a 12-month high of $110.34.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.28. Axis Capital had a return on equity of 18.72% and a net margin of 15.37%.The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $3.38 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts expect that Axis Capital will post 11.19 EPS for the current year.

Axis Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.44 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital’s payout ratio is 14.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new stake in Axis Capital during the fourth quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in shares of Axis Capital in the 3rd quarter valued at approximately $29,000. Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital in the 3rd quarter worth approximately $43,000. Fideuram Asset Management Ireland dac bought a new position in shares of Axis Capital during the 4th quarter valued at approximately $47,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Axis Capital during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.