Axis Capital (NYSE:AXS) Stock Passes Above 50-Day Moving Average of $60.11

Axis Capital Holdings Limited (NYSE:AXS) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $60.11 and traded as high as $60.80. Axis Capital shares last traded at $60.16, with a volume of 17,030 shares.

Several research firms have issued reports on AXS. Morgan Stanley set a $10.00 price target on shares of Ford Motor and gave the stock a “hold” rating in a report on Friday, April 26th. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. UBS Group lowered shares of AGL Energy to a “sell” rating in a report on Thursday, May 23rd. Finally, TheStreet raised shares of Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Axis Capital currently has an average rating of “Buy” and an average price target of $63.00.

The company has a market capitalization of $5.11 billion, a PE ratio of 31.43, a PEG ratio of 1.49 and a beta of 0.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $60.12.

Axis Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.16). The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Axis Capital had a net margin of 1.54% and a return on equity of 3.95%. Axis Capital’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Sell-side analysts anticipate that Axis Capital Holdings Limited will post 4.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, June 27th. Axis Capital’s dividend payout ratio (DPR) is presently 83.33%.

Several institutional investors and hedge funds have recently made changes to their positions in AXS. Norges Bank purchased a new stake in Axis Capital in the fourth quarter valued at $43,455,000. FMR LLC boosted its holdings in Axis Capital by 23.9% in the fourth quarter. FMR LLC now owns 4,145,225 shares of the insurance provider’s stock valued at $214,059,000 after purchasing an additional 800,331 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Axis Capital by 20.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,267,005 shares of the insurance provider’s stock valued at $117,068,000 after purchasing an additional 385,229 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Axis Capital by 102.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 478,633 shares of the insurance provider’s stock valued at $26,221,000 after purchasing an additional 242,258 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Axis Capital by 18.2% in the first quarter. Janus Henderson Group PLC now owns 1,269,465 shares of the insurance provider’s stock valued at $69,541,000 after purchasing an additional 195,900 shares during the last quarter. 89.47% of the stock is currently owned by hedge funds and other institutional investors.

Axis Capital Company Profile (NYSE:AXS)

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 products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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