AXIS Capital (NYSE:AXS – Get Rating) had its price target lowered by investment analysts at Morgan Stanley from $63.00 to $61.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 11.97% from the stock’s current price.
A number of other research analysts also recently commented on the company. TheStreet downgraded AXIS Capital from a “b” rating to a “c+” rating in a report on Tuesday, July 26th. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a report on Sunday, August 14th. Finally, Jefferies Financial Group dropped their price objective on AXIS Capital from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.33.
AXIS Capital Price Performance
Shares of NYSE AXS opened at $54.48 on Friday. The stock’s 50-day moving average is $53.91 and its two-hundred day moving average is $55.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.57 and a quick ratio of 0.57. AXIS Capital has a 1-year low of $44.49 and a 1-year high of $61.39. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.75.
AXIS Capital (NYSE:AXS – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The insurance provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.21. AXIS Capital had a return on equity of 11.81% and a net margin of 8.55%. During the same quarter in the prior year, the business posted $2.00 EPS. Analysts forecast that AXIS Capital will post 6.4 EPS for the current fiscal year.
Institutional Trading of AXIS Capital
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of AXIS Capital by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 7,948,453 shares of the insurance provider’s stock valued at $480,644,000 after purchasing an additional 288,068 shares during the period. Pzena Investment Management LLC lifted its position in AXIS Capital by 0.8% during the 1st quarter. Pzena Investment Management LLC now owns 7,111,763 shares of the insurance provider’s stock worth $430,048,000 after acquiring an additional 54,239 shares during the period. BlackRock Inc. lifted its position in AXIS Capital by 0.7% during the 1st quarter. BlackRock Inc. now owns 3,292,446 shares of the insurance provider’s stock worth $199,093,000 after acquiring an additional 24,397 shares during the period. Dimensional Fund Advisors LP lifted its position in AXIS Capital by 13.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,707 shares of the insurance provider’s stock worth $190,280,000 after acquiring an additional 381,511 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in AXIS Capital by 1.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,866,970 shares of the insurance provider’s stock worth $156,164,000 after acquiring an additional 43,469 shares during the period. 93.67% of the stock is owned by institutional investors and hedge funds.
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, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
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