AXIS Capital (NYSE:AXS) PT reduced to $66.00

AXIS Capital (NYSE:AXSGet a rating) had its target price lowered by Jefferies Financial Group from $70.00 to $66.00 in a research note released to investors on Tuesday morning, Fly reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

Separately, downgraded shares of AXIS Capital from a buy rating to a hold rating in a report on Friday, May 6. Four analysts rated the stock with a hold rating and one gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $61.00.

AXIS Social capital opened at $54.66 on Tuesday. The company has a 50-day moving average price of $56.73 and a 200-day moving average price of $56.28. The company has a market capitalization of $4.66 billion, a PE ratio of 7.61, a growth price-earnings ratio of 1.74 and a beta of 0.85. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt ratio of 0.31. AXIS Capital has a 12-month low of $44.49 and a 12-month high of $61.39.

AXIS Capital (NYSE:AXSGet a rating) last reported quarterly earnings data on Wednesday, April 27. The insurance provider reported earnings per share of $2.09 for the quarter, beating consensus analyst estimates of $1.74 by $0.35. AXIS Capital posted a net margin of 12.09% and a return on equity of 11.84%. The company posted revenue of $1.81 billion in the quarter, compared to analysts’ estimates of $1.92 billion. In the same quarter last year, the company posted EPS of $0.97. The company’s revenue for the quarter increased 1.9% year over year. As a group, sell-side analysts expect AXIS Capital to post earnings per share of 6.33 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Thursday, June 30 will receive a dividend of $0.43 per share. The ex-date of this dividend is Wednesday, June 29. This represents a dividend of $1.72 on an annualized basis and a yield of 3.15%. AXIS Capital’s payout ratio is 23.92%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXS. The New York State Teachers’ Retirement System purchased a new position in AXIS Capital during Q4 worth approximately $365,000. Paragon Capital Management Ltd acquired a new stake in AXIS Capital during the 4th quarter for a value of approximately $200,000. Allspring Global Investments Holdings LLC acquired a new stake in AXIS Capital during Q4 valued at approximately $27,498,000. State of New Jersey Common Pension Fund D increased its position in AXIS Capital by 9.9% during the 4th quarter. New Jersey State Joint Pension Fund D now owns 54,484 shares of the insurance provider worth $2,968,000 after buying 4,929 additional shares in the last quarter. Finally, Yousif Capital Management LLC acquired a new stake in AXIS Capital during the 4th quarter at a value of approximately $223,000. 93.67% of the shares are currently held by institutional investors and hedge funds.

About AXIS Capital (Get a rating)

AXIS Capital Holdings Limited, through its subsidiaries, offers a variety of specialist 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 land energy facilities; marine insurance products covering offshore energy, freight, liability, recreational marine, fine art, cash and hull warfare; and terrorism, aviation, credit and political risk and liability insurance products.

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