Mizuho Lowers Axis Capital (NYSE:AXS) Price Target to $130.00

Axis Capital (NYSE:AXS) had its target price dropped by investment analysts at Mizuho from $142.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Mizuho’s price target would suggest a potential upside of 23.13% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded Axis Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. Atlantic Securities set a $122.00 price objective on Axis Capital in a research report on Wednesday, July 15th. BMO Capital Markets reissued a “market perform” rating on shares of Axis Capital in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on Axis Capital from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company decreased their price target on Axis Capital from $134.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.42.

Axis Capital Trading Up 0.2%

Shares of Axis Capital stock opened at $105.58 on Monday. Axis Capital has a 1 year low of $88.07 and a 1 year high of $119.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $7.70 billion, a P/E ratio of 7.50, a PEG ratio of 4.39 and a beta of 0.50. The company’s fifty day moving average is $106.22 and its two-hundred day moving average is $103.21.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Monday, July 27th. The insurance provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.41). Axis Capital had a net margin of 16.23% and a return on equity of 17.00%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts forecast that Axis Capital will post 12.96 earnings per share for the current year.

Insider Transactions at Axis Capital

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $98.69, for a total transaction of $250,869.98. Following the transaction, the director owned 46,347 shares in the company, valued at approximately $4,573,985.43. The trade was a 5.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of Axis Capital

A number of institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC grew its holdings in Axis Capital by 5.0% during the third quarter. Orion Porfolio Solutions LLC now owns 2,104 shares of the insurance provider’s stock worth $202,000 after acquiring an additional 100 shares during the period. Truist Financial Corp boosted its position in shares of Axis Capital by 2.3% during the 4th quarter. Truist Financial Corp now owns 4,597 shares of the insurance provider’s stock worth $492,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Axis Capital by 2.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,390 shares of the insurance provider’s stock worth $577,000 after purchasing an additional 107 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Axis Capital by 0.3% during the 4th quarter. Stifel Financial Corp now owns 37,119 shares of the insurance provider’s stock worth $3,975,000 after purchasing an additional 122 shares during the period. Finally, Evoke Wealth LLC grew its stake in shares of Axis Capital by 6.0% during the 4th quarter. Evoke Wealth LLC now owns 2,827 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 161 shares during the period. 93.44% of the stock is currently 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.