Shares of Axis Capital Holdings Limited (NYSE:AXS) have received an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $63.60.
AXS has been the topic of several research reports. ValuEngine cut Axis Capital from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Morgan Stanley set a $62.00 price target on Axis Capital and gave the stock a “hold” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods upgraded Axis Capital from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $61.00 to $67.00 in a report on Wednesday, March 13th. UBS Group upgraded Axis Capital from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a report on Thursday, May 23rd. Finally, TheStreet upgraded Axis Capital from a “c” rating to a “b-” rating in a report on Wednesday, April 24th.
A number of hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in Axis Capital by 2.4% in the first quarter. Nordea Investment Management AB now owns 171,488 shares of the insurance provider’s stock valued at $9,393,000 after acquiring an additional 4,100 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Axis Capital during the first quarter valued at approximately $37,000. Cerebellum GP LLC boosted its position in shares of Axis Capital by 145.8% during the first quarter. Cerebellum GP LLC now owns 5,926 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 3,515 shares in the last quarter. Marshall Wace North America L.P. boosted its position in shares of Axis Capital by 315.8% during the first quarter. Marshall Wace North America L.P. now owns 20,584 shares of the insurance provider’s stock valued at $1,128,000 after purchasing an additional 15,633 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Axis Capital by 1,488.4% during the first quarter. Marshall Wace LLP now owns 3,145 shares of the insurance provider’s stock valued at $172,000 after purchasing an additional 2,947 shares in the last quarter. Institutional investors and hedge funds own 89.47% of the company’s stock.
Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.16). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.96 billion. Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. Equities analysts forecast that Axis Capital will post 4.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, June 27th. Axis Capital’s payout ratio is presently 83.33%.
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, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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