Axis Capital (AXS) Stock Rating Reaffirmed by Wells Fargo & Co

Axis Capital (NYSE:AXS)‘s stock had its “hold” rating reissued by equities researchers at Wells Fargo & Co in a research report issued to clients and investors on Thursday. They currently have a $60.00 price target on the insurance provider’s stock. Wells Fargo & Co’s price objective would suggest a potential upside of 5.36% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Axis Capital from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Citigroup upped their price objective on shares of Axis Capital from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 2nd. Finally, TheStreet raised shares of Axis Capital from a “c” rating to a “b-” rating in a research note on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.71.

NYSE:AXS opened at $56.95 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.55. Axis Capital has a 52 week low of $47.43 and a 52 week high of $60.69. The firm has a market capitalization of $4.80 billion, a PE ratio of -18.08, a PEG ratio of 1.44 and a beta of 0.37.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, October 24th. The insurance provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.27. Axis Capital had a net margin of 3.91% and a return on equity of 8.02%. The company had revenue of $919.94 million for the quarter, compared to analyst estimates of $987.27 million. During the same period in the prior year, the firm posted ($5.35) EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts forecast that Axis Capital will post 4.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of AXS. Valeo Financial Advisors LLC boosted its stake in Axis Capital by 179.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,900 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 1,220 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Axis Capital by 83.5% during the second quarter. Advisors Asset Management Inc. now owns 3,086 shares of the insurance provider’s stock worth $172,000 after acquiring an additional 1,404 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Axis Capital by 75.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,708 shares of the insurance provider’s stock worth $214,000 after acquiring an additional 1,594 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Axis Capital during the second quarter worth $230,000. Finally, Oakbrook Investments LLC bought a new position in Axis Capital during the third quarter worth $233,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

Axis Capital Company Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

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Analyst Recommendations for Axis Capital (NYSE:AXS)

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