AXIS Capital (NYSE:AXS) Sets New 12-Month High – Should You Buy?

Shares of AXIS Capital Holdings Limited (NYSE:AXS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $87.24 and last traded at $87.17, with a volume of 1513 shares traded. The stock had previously closed at $86.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AXS shares. Jefferies Financial Group increased their price objective 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. Bank of America increased their target price 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. UBS Group increased their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Roth Mkm increased their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

AXIS Capital Trading Up 1.1 %

The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.29 and a beta of 0.90. 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 business’s 50 day simple moving average is $81.01 and its 200 day simple moving average is $75.58.

AXIS Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.57 billion. AXIS Capital had a net margin of 10.82% and a return on equity of 19.24%. During the same quarter last year, the company posted $2.34 EPS. On average, research analysts expect that AXIS Capital Holdings Limited will post 10.89 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 30th. AXIS Capital’s dividend payout ratio is 24.41%.

Hedge Funds Weigh In On AXIS Capital

A number of hedge funds have recently bought and sold shares of AXS. Versant Capital Management Inc increased its holdings in AXIS Capital by 55.6% in the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the period. True Wealth Design LLC acquired a new stake in shares of AXIS Capital in the 3rd quarter valued at approximately $40,000. GAMMA Investing LLC boosted its stake in shares of AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 226 shares in the last quarter. Covestor Ltd boosted its stake in shares of AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 185 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after buying an additional 148 shares during the period. 93.44% of the stock is 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.