Wells Fargo & Company Issues Pessimistic Forecast for AXIS Capital (NYSE:AXS) Stock Price

AXIS Capital (NYSE:AXS) had its price target lowered by equities research analysts at Wells Fargo & Company from $89.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 1.45% from the stock’s previous close.

AXS has been the topic of several other reports. UBS Group raised their price target on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Bank of America raised their target price on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Jefferies Financial Group raised their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.25.

AXIS Capital Price Performance

NYSE:AXS traded up $0.41 during mid-day trading on Tuesday, hitting $86.25. 7,833 shares of the company’s stock traded hands, compared to its average volume of 516,908. AXIS Capital has a 1 year low of $53.88 and a 1 year high of $94.89. The company has a market cap of $7.22 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.31 and a beta of 0.95. The firm’s 50 day simple moving average is $88.78 and its 200 day simple moving average is $80.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.16. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company earned $2.34 EPS. Sell-side analysts expect that AXIS Capital will post 10.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC purchased a new stake in shares of AXIS Capital during the third quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc raised its stake in shares of AXIS Capital by 24.0% during the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 130 shares during the period. Blue Trust Inc. raised its stake in shares of AXIS Capital by 424.6% during the third quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after purchasing an additional 985 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of AXIS Capital during the third quarter valued at approximately $99,000. 93.44% of the stock is owned by institutional investors and hedge funds.

About AXIS Capital

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.