Citigroup Inc. started coverage on shares of Axis Capital Holdings Ltd. (NYSE:AXS) in a report released on Tuesday. The brokerage issued a sell rating and a $55.00 price target on the stock.
A number of other research analysts have also weighed in on the company. Goldman Sachs Group Inc. lowered Axis Capital Holdings from a neutral rating to a sell rating in a report on Tuesday, November 15th. Zacks Investment Research upgraded Axis Capital Holdings from a hold rating to a buy rating and set a $66.00 price objective on the stock in a report on Tuesday, November 8th. Finally, Morgan Stanley raised their price objective on Axis Capital Holdings from $59.00 to $60.00 and gave the company an equal weight rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $59.50.
Shares of Axis Capital Holdings (NYSE:AXS) opened at 61.15 on Tuesday. Axis Capital Holdings has a 1-year low of $51.01 and a 1-year high of $62.71. The company has a 50-day moving average of $57.96 and a 200-day moving average of $55.60. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 12.23 and a beta of 0.47.
Axis Capital Holdings (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.73. The company had revenue of $595.43 million for the quarter, compared to analyst estimates of $710.69 million. Axis Capital Holdings had a return on equity of 8.62% and a net margin of 12.81%. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, equities research analysts expect that Axis Capital Holdings will post $4.21 EPS for the current fiscal year.
In other news, Director Michael A. Butt sold 40,673 shares of Axis Capital Holdings stock in a transaction on Friday, October 14th. The stock was sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the transaction, the director now owns 1,161,675 shares in the company, valued at approximately $66,227,091.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard T. Gieryn, Jr. sold 10,400 shares of Axis Capital Holdings stock in a transaction on Friday, September 9th. The stock was sold at an average price of $56.15, for a total value of $583,960.00. Following the transaction, the executive vice president now owns 15,958 shares in the company, valued at approximately $896,041.70. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. General American Investors Co. Inc. bought a new position in Axis Capital Holdings during the second quarter valued at approximately $10,313,000. Eaton Vance Management raised its position in Axis Capital Holdings by 13.9% in the second quarter. Eaton Vance Management now owns 5,637 shares of the company’s stock valued at $310,000 after buying an additional 686 shares in the last quarter. First Trust Advisors LP raised its position in Axis Capital Holdings by 38.6% in the second quarter. First Trust Advisors LP now owns 406,638 shares of the company’s stock valued at $22,365,000 after buying an additional 113,184 shares in the last quarter. BlueMountain Capital Management LLC raised its position in Axis Capital Holdings by 44.1% in the first quarter. BlueMountain Capital Management LLC now owns 16,439 shares of the company’s stock valued at $912,000 after buying an additional 5,034 shares in the last quarter. Finally, Swiss National Bank raised its position in Axis Capital Holdings by 174.3% in the second quarter. Swiss National Bank now owns 686,946 shares of the company’s stock valued at $37,782,000 after buying an additional 436,500 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.
About Axis Capital Holdings