AXIS Capital (NYSE:AXS) Given New $85.00 Price Target at UBS Group

AXIS Capital (NYSE:AXS) had its target price hoisted by UBS Group from $82.00 to $85.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company boosted their price objective on AXIS Capital from $57.00 to $63.00 and gave the stock an underweight rating in a research report on Friday, May 10th. StockNews.com raised AXIS Capital from a hold rating to a buy rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $86.00 price target on shares of AXIS Capital in a report on Monday, June 17th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $71.83.

AXIS Capital Stock Performance

NYSE AXS opened at $70.57 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $70.74 and a 200 day moving average of $64.04. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.26 and a beta of 0.90. AXIS Capital has a twelve month low of $52.02 and a twelve month high of $74.05.

AXIS Capital (NYSE:AXS) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.17. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that AXIS Capital will post 10.05 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, June 28th. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

Insiders Place Their Bets

In related news, Director Michael Millegan acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $71.49 per share, for a total transaction of $100,086.00. Following the transaction, the director now owns 9,016 shares in the company, valued at approximately $644,553.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AXIS Capital news, Director Michael Millegan purchased 1,400 shares of AXIS Capital stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of $71.49 per share, with a total value of $100,086.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $644,553.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Marston Becker purchased 3,025 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $66.58 per share, with a total value of $201,404.50. Following the completion of the transaction, the director now owns 21,821 shares in the company, valued at approximately $1,452,842.18. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,425 shares of company stock worth $444,351. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of AXIS Capital

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Covestor Ltd grew its position in AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the last quarter. Steph & Co. grew its position in AXIS Capital by 2.3% in the 4th quarter. Steph & Co. now owns 10,028 shares of the insurance provider’s stock worth $555,000 after purchasing an additional 225 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AXIS Capital by 80.4% in the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 226 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of AXIS Capital by 14.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 237 shares in the last quarter. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.