Axis Capital (NYSE:AXS) Price Target Raised to $130.00 at Keefe, Bruyette & Woods

Axis Capital (NYSE:AXS) had its price objective lifted by Keefe, Bruyette & Woods from $121.00 to $130.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 26.54% from the stock’s current price.

AXS has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on Axis Capital in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of Axis Capital in a research report on Monday, November 24th. They issued an “outperform” rating and a $125.00 price objective for the company. Compass Point set a $121.00 price target on Axis Capital in a research note on Monday, November 24th. Wells Fargo & Company set a $123.00 price target on Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Axis Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.30.

Axis Capital Stock Down 2.6%

Axis Capital stock traded down $2.78 during trading hours on Tuesday, reaching $102.73. The stock had a trading volume of 262,637 shares, compared to its average volume of 443,290. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.01 and a beta of 0.65. The business’s 50 day moving average price is $101.87 and its 200-day moving average price is $98.59. Axis Capital has a 52 week low of $83.90 and a 52 week high of $110.34.

Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. Axis Capital had a net margin of 16.08% and a return on equity of 18.99%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. Axis Capital’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Axis Capital will post 11.19 EPS for the current year.

Institutional Trading of Axis Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Axis Capital in the third quarter worth approximately $29,000. Smithfield Trust Co raised its position in Axis Capital by 94.0% in the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 142 shares during the period. AlphaCore Capital LLC acquired a new position in shares of Axis Capital in the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Axis Capital during the 2nd quarter worth $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital during the 3rd quarter worth $43,000. Institutional investors and hedge funds 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.