AXIS Capital (NYSE:AXS) Reaches New 52-Week High - Is It Time to Invest?

AXIS Capital Holdings Limited (NYSE:AXS) achieved a significant milestone recently as its shares hit a new 52-week high during trading on Monday. The stock reached a peak of $98.26 before settling at $98.03, with a total trading volume of 815,955 shares for the day. Previously, the stock had closed at $95.00.

Recent Analyst Ratings

Following this rise, several brokerages have issued updated ratings for AXIS Capital. Notably, StockNews.com upgraded the stock from a "hold" to a "buy" rating as of March 4th. Additionally, Keefe, Bruyette & Woods raised their price target for AXIS shares from $115.00 to $118.00 and deemed the stock an "outperform" as of March 13th. JMP Securities reiterated their "market perform" rating on February 3rd, while BMO Capital Markets initiated coverage with a "market perform" rating and a target price of $93.00 in January. Conversely, Wells Fargo reduced their price target from $89.00 to $85.00, maintaining an "equal weight" rating. Overall, three analysts have given the stock a hold rating, while seven analysts have a buy rating, leading to a consensus rating of "Moderate Buy" with a target price of $100.25 based on MarketBeat data.

Stock Performance Overview

AXIS Capital's current price dynamics show a fifty-day moving average of $91.93 and a 200-day moving average of $87.12. The company maintains a quick ratio of 0.60 and a current ratio of 0.60, with a debt-to-equity ratio standing at 0.27. AXIS has a market capitalization of $7.92 billion, a price-to-earnings (P/E) ratio of 7.94, a PEG ratio of 3.96, and a beta of 0.91, indicating relatively stable performance compared to the market.

In its latest earnings report released on January 29th, the company reported earnings per share (EPS) of $2.97, surpassing analysts' expectations of $2.68 by $0.29. AXIS Capital reported a net margin of 18.16% and a return on equity of 18.89%. Analysts predict that AXIS Capital Holdings Limited will achieve earnings of approximately 11.19 per share for the current fiscal year.

Dividend Information

The company recently announced a quarterly dividend, which is scheduled to be paid on April 17th. Shareholders on record as of March 31st will receive a dividend of $0.44. The ex-dividend date for this dividend is the same day. Annually, this equates to a dividend of $1.76, reflecting a yield of 1.80%. AXIS Capital's dividend payout ratio is currently at 14.25%.

Insider Trading Activity

In other notable news, Director Charles A. Davis sold 2,139,037 shares of AXIS Capital on March 5th at an average price of $93.50, resulting in a total transaction value of around $200 million. After this sale, the director retains 2,404,133 shares in the company, valued at approximately $224.79 million, indicating a 47.08% decrease in his position. This transaction was filed with the Securities & Exchange Commission, ensuring transparency.

Institutional Investors' Involvement

A number of hedge funds have also adjusted their stakes in AXIS Capital. Dimensional Fund Advisors LP increased its holdings by 0.4% in the last quarter, now owning 4,144,247 shares valued at $367.27 million. T. Rowe Price Investment Management and American Century Companies also raised their positions by 0.4% and 1.7%, respectively. At present, institutional investors hold 93.44% of AXIS Capital’s stock.

About AXIS Capital

AXIS Capital Holdings Limited provides a wide range of specialty insurance and reinsurance products both in the U.S. and globally through its subsidiaries. The firm is divided into two segments: Insurance and Reinsurance. The Insurance division delivers various products, including coverage for directors and officers, errors and omissions, medical malpractice, and property insurance for commercial enterprises and other professional service providers.

Conclusion

Investors considering AXIS Capital shares at this point may want to weigh the recent analyst opinions, financial performance, and market conditions to make an informed decision.

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