Wells Fargo & Co Reiterates Hold Rating for Axis Capital (AXS)

Axis Capital (NYSE:AXS)‘s stock had its “hold” rating reaffirmed by analysts at Wells Fargo & Co in a report issued on Wednesday. They presently have a $58.00 target price on the insurance provider’s stock. Wells Fargo & Co’s price objective points to a potential upside of 1.90% from the stock’s current price.

AXS has been the topic of a number of other reports. Zacks Investment Research downgraded Axis Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Citigroup upped their price target on Axis Capital from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Axis Capital presently has an average rating of “Hold” and a consensus price target of $59.71.

Shares of NYSE AXS opened at $56.92 on Wednesday. The company has a market capitalization of $4.61 billion, a PE ratio of -18.07, a PEG ratio of 1.35 and a beta of 0.42. Axis Capital has a 52-week low of $47.43 and a 52-week high of $60.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.55.

Axis Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.27. The business had revenue of $919.94 million for the quarter, compared to analysts’ expectations of $987.27 million. Axis Capital had a negative return on equity of 3.63% and a negative net margin of 6.16%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($5.35) EPS. On average, research analysts anticipate that Axis Capital will post 4.81 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of AXS. Victory Capital Management Inc. lifted its holdings in shares of Axis Capital by 597.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,477,410 shares of the insurance provider’s stock valued at $82,173,000 after buying an additional 1,265,436 shares during the period. Janus Henderson Group PLC lifted its holdings in Axis Capital by 715.7% in the second quarter. Janus Henderson Group PLC now owns 1,151,704 shares of the insurance provider’s stock valued at $64,058,000 after acquiring an additional 1,010,516 shares during the period. Paradice Investment Management LLC bought a new position in Axis Capital in the second quarter valued at about $49,225,000. Millennium Management LLC lifted its holdings in Axis Capital by 37.1% in the second quarter. Millennium Management LLC now owns 1,507,418 shares of the insurance provider’s stock valued at $83,843,000 after acquiring an additional 407,956 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Axis Capital by 3.0% in the second quarter. Pzena Investment Management LLC now owns 6,569,931 shares of the insurance provider’s stock valued at $365,420,000 after acquiring an additional 192,005 shares during the period. Institutional investors own 89.28% of the company’s stock.

Axis Capital Company Profile

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 for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

Featured Story: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Axis Capital (NYSE:AXS)

Receive News & Ratings for Axis Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axis Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply