AXIS Capital (NYSE:AXS) Hits New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on AXS. Keefe, Bruyette & Woods increased their target price on AXIS Capital from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, March 13th. TD Cowen increased their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company reduced their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research note on Monday, January 13th. They issued a “market perform” rating and a $93.00 target price on the stock. Finally, StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.25.

AXIS Capital Price Performance

The stock has a market capitalization of $7.92 billion, a PE ratio of 7.94, a PEG ratio of 3.96 and a beta of 0.91. The firm’s fifty day moving average price is $91.93 and its two-hundred 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.

AXIS Capital (NYSE:AXS) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share 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%. On average, equities analysts predict that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 annualized dividend and a yield of 1.80%. AXIS Capital’s payout ratio is 14.25%.

Insider Buying and Selling at AXIS Capital

In related news, Director Charles A. Davis sold 2,139,037 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total value of $199,999,959.50. Following the transaction, the director now owns 2,404,133 shares of the company’s stock, valued at approximately $224,786,435.50. This trade represents a 47.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AXS. Independent Advisor Alliance increased its stake in shares of AXIS Capital by 0.4% in the 3rd quarter. Independent Advisor Alliance now owns 32,549 shares of the insurance provider’s stock worth $2,591,000 after purchasing an additional 125 shares in the last quarter. Pathstone Holdings LLC increased its position in AXIS Capital by 0.4% in the third quarter. Pathstone Holdings LLC now owns 31,785 shares of the insurance provider’s stock worth $2,542,000 after buying an additional 127 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares during the period. Parkside Financial Bank & Trust lifted its position 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 valued at $171,000 after buying an additional 134 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of AXIS Capital by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,799 shares of the insurance provider’s stock valued at $248,000 after acquiring an additional 137 shares during the period. 93.44% of the stock is currently owned by 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.