Axis Capital (NYSE:AXS) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Axis Capital (NYSE:AXS) in a research note released on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $125.00 price objective on the insurance provider’s stock.

AXS has been the subject of a number of other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Axis Capital in a research report on Wednesday, November 19th. Keefe, Bruyette & Woods lifted their price target on shares of Axis Capital from $119.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group assumed coverage on shares of Axis Capital in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price objective for the company. Compass Point set a $121.00 price objective on shares of Axis Capital in a research note on Monday. Finally, Wall Street Zen cut shares of Axis Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Axis Capital Price Performance

Shares of Axis Capital stock traded up $1.35 during trading on Monday, hitting $101.51. 56,554 shares of the company were exchanged, compared to its average volume of 704,979. Axis Capital has a fifty-two week low of $83.90 and a fifty-two week high of $107.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $96.07 and a 200 day moving average price of $98.11. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 1.06 and a beta of 0.73.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.53. Axis Capital had a return on equity of 19.25% and a net margin of 16.08%.The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the business posted $2.71 earnings per share. Axis Capital’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Axis Capital will post 11.19 earnings per share for the current fiscal year.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Tuesday, September 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, September 30th. Axis Capital’s payout ratio is presently 14.55%.

Hedge Funds Weigh In On Axis Capital

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in Axis Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 540 shares during the last quarter. Choreo LLC lifted its stake in shares of Axis Capital by 10.3% in the 1st quarter. Choreo LLC now owns 2,732 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 255 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Axis Capital by 6.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,280 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 202 shares during the period. Cetera Investment Advisers increased its position in Axis Capital by 2.0% during the 1st quarter. Cetera Investment Advisers now owns 8,231 shares of the insurance provider’s stock worth $825,000 after purchasing an additional 161 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Axis Capital by 119.0% in the first quarter. Mackenzie Financial Corp now owns 15,075 shares of the insurance provider’s stock valued at $1,511,000 after buying an additional 8,190 shares during the period. 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.