Axis Capital (NYSE:AXS) Receives “Neutral” Rating from Bank of America

Axis Capital (NYSE:AXS)‘s stock had its “neutral” rating reissued by equities research analysts at Bank of America in a research note issued on Tuesday,Benzinga reports. They presently have a $115.00 price target on the insurance provider’s stock, down from their previous price target of $116.00. Bank of America‘s price target points to a potential upside of 9.04% from the stock’s previous close.

Several other equities research analysts have also commented on AXS. The Goldman Sachs Group started coverage on shares of Axis Capital in a report on Tuesday, October 14th. They issued a “neutral” rating and a $104.00 price target for the company. Wells Fargo & Company set a $123.00 price target on shares of Axis Capital and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Axis Capital in a research note on Monday, December 29th. Royal Bank Of Canada assumed coverage on Axis Capital in a report on Monday, November 24th. They issued an “outperform” rating and a $125.00 price objective on the stock. Finally, Mizuho initiated coverage on Axis Capital in a report on Monday, December 15th. They set an “outperform” rating and a $133.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Axis Capital Price Performance

Shares of Axis Capital stock opened at $105.46 on Tuesday. The firm has a market cap of $8.12 billion, a PE ratio of 8.72, a P/E/G ratio of 1.01 and a beta of 0.65. Axis Capital has a twelve month low of $83.90 and a twelve month high of $110.34. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $101.87 and a 200 day moving average price of $98.59.

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

Institutional Investors Weigh In On Axis Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Axis Capital during the second quarter valued at about $100,683,000. Freestone Grove Partners LP purchased a new position in shares of Axis Capital during the 3rd quarter worth approximately $56,705,000. Altrinsic Global Advisors LLC increased its holdings in Axis Capital by 47.7% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,817,204 shares of the insurance provider’s stock valued at $188,662,000 after purchasing an additional 586,576 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Axis Capital in the second quarter valued at approximately $55,025,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Axis Capital by 174.6% in the second quarter. Allianz Asset Management GmbH now owns 744,842 shares of the insurance provider’s stock valued at $77,329,000 after buying an additional 473,608 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Axis Capital Company Profile

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.