Axis Capital (AXS) Given Hold Rating at Wells Fargo & Co

Wells Fargo & Co reissued their hold rating on shares of Axis Capital (NYSE:AXS) in a research report sent to investors on Thursday morning. The firm currently has a $60.00 price target on the insurance provider’s stock.

A number of other research firms have also issued reports on AXS. Zacks Investment Research lowered Axis Capital from a buy rating to a hold rating in a report on Thursday, October 4th. Citigroup set a $60.00 target price on Axis Capital and gave the company a hold rating in a report on Thursday. Finally, TheStreet upgraded Axis Capital from a c rating to a b- rating in a report on Thursday, October 25th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $59.71.

Shares of AXS traded up $0.03 during mid-day trading on Thursday, reaching $56.95. The company’s stock had a trading volume of 462,523 shares, compared to its average volume of 712,684. The firm has a market capitalization of $4.76 billion, a P/E ratio of -18.10, a PEG ratio of 1.43 and a beta of 0.37. Axis Capital has a 1 year low of $47.43 and a 1 year high of $60.69. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.31.

Axis Capital (NYSE:AXS) last released its earnings results on Wednesday, October 24th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.27. The company had revenue of $919.94 million during the quarter, compared to analyst estimates of $987.27 million. Axis Capital had a return on equity of 8.02% and a net margin of 3.91%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($5.35) earnings per share. On average, analysts expect that Axis Capital will post 4.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Tuesday, October 9th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, October 5th. Axis Capital’s dividend payout ratio (DPR) is presently -49.52%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Korea Investment CORP acquired a new position in shares of Axis Capital in the second quarter worth $962,000. Tower Research Capital LLC TRC increased its stake in shares of Axis Capital by 365.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,104 shares of the insurance provider’s stock worth $340,000 after acquiring an additional 4,792 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of Axis Capital by 12.0% in the second quarter. Commonwealth Bank of Australia now owns 25,181 shares of the insurance provider’s stock worth $1,396,000 after acquiring an additional 2,700 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Axis Capital in the third quarter worth $640,000. Finally, Swiss National Bank increased its stake in shares of Axis Capital by 2.2% in the second quarter. Swiss National Bank now owns 536,746 shares of the insurance provider’s stock worth $29,854,000 after acquiring an additional 11,700 shares during the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.

About Axis Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

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Analyst Recommendations for Axis Capital (NYSE:AXS)

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