AXIS Capital (NYSE:AXS) Price Target Raised to $98.00 at UBS Group

AXIS Capital (NYSE:AXS) had its target price boosted by stock analysts at UBS Group from $92.00 to $98.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. UBS Group’s price objective suggests a potential upside of 23.08% from the company’s previous close.

AXS has been the topic of a number of other reports. Bank of America boosted their target price on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Roth Mkm boosted their target price on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen initiated coverage on AXIS Capital in a research report on Friday, October 4th. They issued a “buy” rating and a $118.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.71.

AXIS Capital Stock Performance

Shares of NYSE AXS traded up $0.58 during trading on Monday, hitting $79.62. The company had a trading volume of 67,840 shares, compared to its average volume of 576,692. The stock has a 50 day simple moving average of $79.42 and a 200 day simple moving average of $73.69. The firm has a market capitalization of $6.66 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.26 and a beta of 0.90. AXIS Capital has a 12 month low of $53.14 and a 12 month high of $83.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.55 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. During the same period in the previous year, the business earned $2.34 earnings per share. As a group, analysts anticipate that AXIS Capital will post 10.73 earnings per share for the current year.

Institutional Investors Weigh In On AXIS Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in AXIS Capital by 8,717.0% in the second quarter. Victory Capital Management Inc. now owns 1,361,250 shares of the insurance provider’s stock worth $96,172,000 after purchasing an additional 1,345,811 shares in the last quarter. Janus Henderson Group PLC grew its stake in AXIS Capital by 30.7% in the first quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock worth $150,928,000 after purchasing an additional 545,546 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in AXIS Capital in the first quarter worth approximately $17,065,000. Millennium Management LLC boosted its position in AXIS Capital by 1,644.8% during the 2nd quarter. Millennium Management LLC now owns 240,754 shares of the insurance provider’s stock valued at $17,009,000 after acquiring an additional 226,956 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in AXIS Capital by 9.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,583,700 shares of the insurance provider’s stock valued at $182,538,000 after acquiring an additional 213,559 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

AXIS Capital Company Profile

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.