Axis Capital Holdings Limited (AXS) Upgraded to Neutral by Citigroup Inc.

Citigroup Inc. upgraded shares of Axis Capital Holdings Limited (NYSE:AXS) from a sell rating to a neutral rating in a report issued on Monday. The firm currently has $59.00 price target on the insurance provider’s stock.

Several other brokerages have also issued reports on AXS. Zacks Investment Research upgraded Axis Capital Holdings Limited from a sell rating to a hold rating in a report on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a hold rating and set a $64.00 price objective on shares of Axis Capital Holdings Limited in a report on Friday, June 2nd. ValuEngine lowered Axis Capital Holdings Limited from a buy rating to a hold rating in a report on Thursday, September 7th. Wells Fargo & Company reiterated a sell rating on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Finally, Morgan Stanley reiterated an equal weight rating and set a $70.00 price objective (up from $68.00) on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $66.00.

Shares of Axis Capital Holdings Limited (NYSE:AXS) opened at 58.50 on Monday. Axis Capital Holdings Limited has a 52 week low of $52.15 and a 52 week high of $71.06. The firm’s 50-day moving average price is $62.49 and its 200 day moving average price is $65.02. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.91 and a beta of 0.61.

Axis Capital Holdings Limited (NYSE:AXS) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The business had revenue of $956.02 million during the quarter, compared to analyst estimates of $989.95 million. During the same period last year, the company earned $0.51 earnings per share. Axis Capital Holdings Limited’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Axis Capital Holdings Limited will post $3.95 EPS for the current year.

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Several institutional investors have recently bought and sold shares of AXS. Meeder Asset Management Inc. bought a new position in shares of Axis Capital Holdings Limited in the second quarter worth about $150,000. BlueMountain Capital Management LLC increased its stake in shares of Axis Capital Holdings Limited by 62.0% in the second quarter. BlueMountain Capital Management LLC now owns 2,559 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 979 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Axis Capital Holdings Limited by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 400 shares during the period. Quantbot Technologies LP bought a new position in shares of Axis Capital Holdings Limited in the second quarter worth about $203,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Axis Capital Holdings Limited in the second quarter worth about $207,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Analyst Recommendations for Axis Capital Holdings Limited (NYSE:AXS)

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