Shares of Axis Capital Holdings Ltd. (NYSE:AXS) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $58.67.
Several analysts have recently commented on AXS shares. Morgan Stanley increased their target price on Axis Capital Holdings from $59.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded Axis Capital Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Axis Capital Holdings in a report on Tuesday, June 21st.
Shares of Axis Capital Holdings (NYSE:AXS) opened at 55.87 on Friday. Axis Capital Holdings has a 12 month low of $51.01 and a 12 month high of $57.98. The firm has a 50-day moving average of $55.57 and a 200 day moving average of $54.75. The company has a market capitalization of $5.07 billion, a PE ratio of 9.91 and a beta of 0.73.
Axis Capital Holdings (NYSE:AXS) last announced its earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $983.53 million. Axis Capital Holdings had a return on equity of 6.44% and a net margin of 14.19%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities research analysts expect that Axis Capital Holdings will post $3.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.35 dividend. This is a boost from Axis Capital Holdings’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, September 29th. This represents a $1.40 annualized dividend and a yield of 2.51%. Axis Capital Holdings’s dividend payout ratio (DPR) is currently 25.04%.
In related news, EVP Richard T. Gieryn, Jr. sold 10,400 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $56.15, for a total value of $583,960.00. Following the transaction, the executive vice president now owns 15,958 shares in the company, valued at $896,041.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new position in Axis Capital Holdings during the second quarter valued at about $38,074,000. Renaissance Technologies LLC boosted its position in Axis Capital Holdings by 283.1% in the first quarter. Renaissance Technologies LLC now owns 771,876 shares of the company’s stock valued at $42,808,000 after buying an additional 570,376 shares in the last quarter. BlackRock Fund Advisors boosted its position in Axis Capital Holdings by 27.8% in the second quarter. BlackRock Fund Advisors now owns 2,553,456 shares of the company’s stock valued at $140,440,000 after buying an additional 555,980 shares in the last quarter. Bank of Montreal Can purchased a new position in Axis Capital Holdings during the second quarter valued at about $30,128,000. Finally, UBS Asset Management Americas Inc. boosted its position in Axis Capital Holdings by 93.5% in the second quarter. UBS Asset Management Americas Inc. now owns 923,239 shares of the company’s stock valued at $50,778,000 after buying an additional 445,994 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.
About Axis Capital Holdings
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re.
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