Royal Bank Of Canada Initiates Coverage on Axis Capital (NYSE:AXS)

by · The Cerbat Gem

Research analysts at Royal Bank Of Canada began coverage on shares of Axis Capital (NYSE:AXS – Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a “moderate buy” rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on AXS. Wall Street Zen downgraded Axis Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. UBS Group upped their target price on Axis Capital from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Axis Capital from $119.00 to $121.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company set a $123.00 price target on Axis Capital and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axis Capital in a research note on Wednesday, November 19th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.00.

Get Our Latest Research Report on Axis Capital

Axis Capital Price Performance

NYSE:AXS opened at $100.08 on Monday. Axis Capital has a 12-month low of $83.90 and a 12-month high of $107.19. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.06 and a beta of 0.73. The company’s 50-day moving average is $96.07 and its two-hundred day moving average is $98.11. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.53. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.33 billion. Axis Capital had a net margin of 16.08% and a return on equity of 19.25%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. Research analysts expect that Axis Capital will post 11.19 EPS for the current year.

Institutional Trading of Axis Capital

Institutional investors have recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Axis Capital during the 3rd quarter worth approximately $29,000. Smithfield Trust Co lifted its position in Axis Capital by 94.0% during the second quarter. Smithfield Trust Co now owns 293 shares of the insurance provider’s stock valued at $31,000 after buying an additional 142 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in Axis Capital during the second quarter worth approximately $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Axis Capital in the second quarter worth $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axis Capital in the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Company Profile

(Get Free Report)

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.

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