Axis Capital (NYSE:AXS) Price Target Raised to $75.00

Axis Capital (NYSE:AXS) had its price objective hoisted by MKM Partners from $70.00 to $75.00 in a report issued on Monday, The Fly reports. MKM Partners currently has a buy rating on the insurance provider’s stock.

Several other equities research analysts also recently issued reports on the stock. UBS Group upgraded shares of Axis Capital from a neutral rating to a buy rating and raised their price objective for the stock from $59.00 to $67.00 in a research report on Thursday, May 23rd. Buckingham Research upgraded shares of Axis Capital from a neutral rating to a buy rating and raised their price objective for the stock from $60.00 to $70.00 in a research report on Friday, July 19th. Finally, ValuEngine upgraded shares of Axis Capital from a hold rating to a buy rating in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $65.38.

Axis Capital stock opened at $63.46 on Monday. Axis Capital has a 52 week low of $48.27 and a 52 week high of $65.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $5.43 billion, a P/E ratio of 33.05, a PEG ratio of 1.50 and a beta of 0.31. The stock has a 50-day simple moving average of $63.43 and a 200 day simple moving average of $59.45.

Axis Capital (NYSE:AXS) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.34. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.27 earnings per share. Research analysts forecast that Axis Capital will post 5.06 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new stake in shares of Axis Capital during the second quarter worth $25,000. Krane Funds Advisors LLC bought a new stake in shares of Axis Capital in the second quarter worth $25,000. Advisory Services Network LLC bought a new stake in shares of Axis Capital in the first quarter worth $37,000. Icon Wealth Partners LLC bought a new stake in shares of Axis Capital in the first quarter worth $38,000. Finally, Aperio Group LLC bought a new stake in shares of Axis Capital in the second quarter worth $44,000. Institutional investors own 91.61% of the company’s stock.

About Axis Capital

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 products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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Analyst Recommendations for Axis Capital (NYSE:AXS)

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