Other research analysts also recently issued reports about the stock. Wells Fargo & Co set a $54.00 price objective on shares of Axis Capital and gave the company a sell rating in a research report on Thursday, October 26th. TheStreet downgraded shares of Axis Capital from a b- rating to a c rating in a research report on Wednesday, October 25th. MKM Partners lowered their price objective on shares of Axis Capital from $80.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, October 18th. UBS Group raised shares of Axis Capital from a sell rating to a neutral rating and set a $55.00 price objective on the stock in a research report on Thursday, January 11th. Finally, ValuEngine raised shares of Axis Capital from a sell rating to a hold rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Axis Capital currently has a consensus rating of Hold and an average price target of $60.22.
Axis Capital (NYSE:AXS) opened at $49.16 on Friday. Axis Capital has a 1 year low of $47.99 and a 1 year high of $71.06. The company has a market cap of $4,142.15, a P/E ratio of -9.83, a P/E/G ratio of 1.28 and a beta of 0.48. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.21.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.17%. This is an increase from Axis Capital’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, December 28th. Axis Capital’s payout ratio is currently -31.20%.
In other Axis Capital news, EVP Conrad D. Brooks sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $52.31, for a total value of $392,325.00. Following the completion of the sale, the executive vice president now directly owns 6,027 shares of the company’s stock, valued at $315,272.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.89% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AXS. Toronto Dominion Bank grew its position in Axis Capital by 237.6% in the third quarter. Toronto Dominion Bank now owns 3,572 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 2,514 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Axis Capital in the second quarter worth approximately $207,000. Magnetar Financial LLC bought a new stake in Axis Capital in the third quarter worth approximately $224,000. Levin Capital Strategies L.P. bought a new stake in Axis Capital in the fourth quarter worth approximately $226,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Axis Capital in the third quarter worth approximately $256,000. 85.27% of the stock is owned by institutional investors.
About Axis Capital
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.
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