AXIS Capital (NYSE:AXS) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of AXIS Capital (NYSE:AXS) in a research report report published on Monday,Benzinga reports.

Several other brokerages have also weighed in on AXS. UBS Group increased their target price on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Bank of America increased their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets initiated coverage on shares of AXIS Capital in a research note on Monday, January 13th. They set a “market perform” rating and a $93.00 target price for the company. StockNews.com cut AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.88.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $92.68 on Monday. The company has a market cap of $7.75 billion, a PE ratio of 7.50, a P/E/G ratio of 3.87 and a beta of 0.95. AXIS Capital has a fifty-two week low of $57.95 and a fifty-two week high of $94.89. The firm has a 50-day simple moving average of $90.03 and a 200 day simple moving average of $82.95. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, sell-side analysts anticipate that AXIS Capital will post 11.36 EPS for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Tuesday, December 31st. AXIS Capital’s dividend payout ratio (DPR) is presently 14.25%.

Insider Activity

In other AXIS Capital news, Director Charles A. Davis sold 2,234,636 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $89.50, for a total value of $199,999,922.00. Following the sale, the director now directly owns 4,543,170 shares in the company, valued at approximately $406,613,715. The trade was a 32.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On AXIS Capital

Hedge funds have recently made changes to their positions in the business. Connable Office Inc. bought a new stake in AXIS Capital during the fourth quarter worth approximately $219,000. SVB Wealth LLC acquired a new stake in shares of AXIS Capital during the 4th quarter valued at $260,000. Parkside Financial Bank & Trust boosted its stake in shares of AXIS Capital by 7.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,931 shares of the insurance provider’s stock worth $171,000 after acquiring an additional 134 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of AXIS Capital by 4.3% in the 4th quarter. QRG Capital Management Inc. now owns 8,442 shares of the insurance provider’s stock worth $748,000 after acquiring an additional 350 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of AXIS Capital during the fourth quarter worth $1,673,000. Institutional investors and hedge funds own 93.44% of the company’s stock.

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.