AXIS Capital (NYSE:AXS) Hits New 1-Year High – Time to Buy?

Shares of AXIS Capital Holdings Limited (NYSE:AXS) reached a new 52-week high during trading on Monday . The company traded as high as $98.26 and last traded at $98.03, with a volume of 815955 shares trading hands. The stock had previously closed at $95.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXS. StockNews.com upgraded AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their price objective on shares of AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, March 13th. JMP Securities reissued a “market perform” rating on shares of AXIS Capital in a research note on Monday, February 3rd. BMO Capital Markets assumed coverage on AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Three 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, AXIS Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.25.

AXIS Capital Price Performance

The firm’s fifty day moving average price is $91.93 and its 200-day moving average price is $87.12. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.92 billion, a P/E ratio of 7.94, a PEG ratio of 3.96 and a beta of 0.91.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Analysts forecast that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.80%. AXIS Capital’s dividend payout ratio is currently 14.25%.

Insider Activity

In other news, Director Charles A. Davis sold 2,139,037 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $93.50, for a total value of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This represents a 47.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On AXIS Capital

Several hedge funds have recently made changes to their positions in AXS. Dimensional Fund Advisors LP boosted its holdings in shares of AXIS Capital by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,247 shares of the insurance provider’s stock valued at $367,265,000 after buying an additional 17,764 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in AXIS Capital by 0.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,444,128 shares of the insurance provider’s stock valued at $305,219,000 after acquiring an additional 12,571 shares during the period. American Century Companies Inc. boosted its stake in AXIS Capital by 1.7% during the fourth quarter. American Century Companies Inc. now owns 3,178,512 shares of the insurance provider’s stock worth $281,680,000 after acquiring an additional 53,514 shares in the last quarter. AQR Capital Management LLC grew its holdings in AXIS Capital by 5.3% in the fourth quarter. AQR Capital Management LLC now owns 2,689,510 shares of the insurance provider’s stock worth $238,344,000 after purchasing an additional 134,157 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in AXIS Capital by 1.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,042,925 shares of the insurance provider’s stock worth $181,045,000 after purchasing an additional 20,976 shares during the period. 93.44% of the stock is currently owned by institutional investors.

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.