Several other research analysts have also issued reports on the stock. Citigroup raised their price target on shares of Axis Capital from $60.00 to $62.00 and gave the stock a neutral rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Axis Capital from a hold rating to a strong-buy rating and set a $65.00 price target for the company in a report on Tuesday, July 17th. Finally, Wells Fargo & Co restated a hold rating and set a $58.00 price target on shares of Axis Capital in a report on Wednesday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $59.71.
NYSE:AXS traded down $0.18 during mid-day trading on Thursday, hitting $56.74. 753,731 shares of the company’s stock were exchanged, compared to its average volume of 476,652. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.55 and a quick ratio of 0.55. Axis Capital has a fifty-two week low of $47.43 and a fifty-two week high of $60.69. The company has a market cap of $4.76 billion, a PE ratio of -18.01, a P/E/G ratio of 1.44 and a beta of 0.42.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, October 9th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.75%. Axis Capital’s payout ratio is -49.52%.
A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in shares of Axis Capital by 597.0% in 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 acquiring an additional 1,265,436 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Axis Capital by 715.7% in the 2nd 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 in the last quarter. Paradice Investment Management LLC bought a new stake in shares of Axis Capital in the 2nd quarter valued at $49,225,000. Millennium Management LLC increased its stake in shares of Axis Capital by 37.1% in the 2nd 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 in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Axis Capital by 3.0% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 89.28% of the company’s stock.
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 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.
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