Axis Capital Holdings Limited (NYSE:AXS) Receives Consensus Rating of “Buy” from Brokerages

Axis Capital Holdings Limited (NYSE:AXS) has been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $64.67.

A number of equities research analysts have commented on the company. Buckingham Research raised Axis Capital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $70.00 in a research note on Friday, July 19th. UBS Group raised Axis Capital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $67.00 in a research note on Thursday, May 23rd. Finally, ValuEngine raised Axis Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd.

AXS stock traded down $1.05 during mid-day trading on Friday, reaching $64.33. The company’s stock had a trading volume of 323,914 shares, compared to its average volume of 486,539. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 1.52 and a beta of 0.34. The business’s 50 day moving average price is $62.31 and its 200 day moving average price is $58.75. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. Axis Capital has a 12 month low of $48.27 and a 12 month high of $65.92.

Axis Capital (NYSE:AXS) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.34. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Axis Capital had a return on equity of 4.56% and a net margin of 2.97%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, equities analysts expect that Axis Capital will post 5.06 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina boosted its position in Axis Capital by 0.5% in the second quarter. Treasurer of the State of North Carolina now owns 39,860 shares of the insurance provider’s stock worth $2,378,000 after purchasing an additional 200 shares during the last quarter. BlackRock Inc. boosted its position in Axis Capital by 5.0% in the second quarter. BlackRock Inc. now owns 4,104,998 shares of the insurance provider’s stock worth $244,861,000 after purchasing an additional 195,344 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Axis Capital by 29.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,706,581 shares of the insurance provider’s stock worth $161,448,000 after purchasing an additional 608,021 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Axis Capital in the second quarter worth $5,369,000. Finally, Royal Bank of Canada boosted its position in Axis Capital by 537.6% in the second quarter. Royal Bank of Canada now owns 19,867 shares of the insurance provider’s stock worth $1,184,000 after purchasing an additional 16,751 shares during the last quarter. 91.72% of the stock is 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 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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Analyst Recommendations for Axis Capital (NYSE:AXS)

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