AXIS Capital Holdings Limited (NYSE:AXS) Short Interest Update

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,950,000 shares, a decline of 13.7% from the April 30th total of 2,260,000 shares. Approximately 2.6% of the company's shares are sold short. Based on an average trading volume of 711,300 shares, the short-interest ratio is presently 2.7 days.

Analyst Ratings Changes

Several research firms have recently issued reports on AXS. Cowen restated a "buy" rating on shares of AXIS Capital in a research report on Wednesday, May 14th. Wells Fargo & Company raised their target price on AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Jefferies Financial Group boosted their target price on AXIS Capital from $116.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $114.00 to $118.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, JMP Securities reissued a "market perform" rating on shares of AXIS Capital in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.75.

AXIS Capital Stock Down 0.5%

AXS stock traded down $0.53 during mid-day trading on Wednesday, hitting $104.35. 748,749 shares of the company were exchanged, compared to its average volume of 596,621. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. AXIS Capital has a 1-year low of $68.02 and a 1-year high of $105.40. The firm's 50 day simple moving average is $97.95 and its 200 day simple moving average is $93.71. The firm has a market cap of $8.21 billion, a P/E ratio of 8.45, a P/E/G ratio of 3.96 and a beta of 0.82.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.53. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the business posted $3.07 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 1.69%. AXIS Capital's dividend payout ratio (DPR) is presently 17.46%.

Hedge Funds Weigh In On AXIS Capital

A number of large investors have recently modified their holdings of AXS. Raymond James Financial Inc. bought a new stake in AXIS Capital during the fourth quarter worth about $88,175,000. Norges Bank acquired a new position in shares of AXIS Capital during the 4th quarter worth approximately $88,147,000. Price T Rowe Associates Inc. MD raised its stake in shares of AXIS Capital by 95.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,852,398 shares of the insurance provider's stock worth $185,685,000 after purchasing an additional 903,107 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of AXIS Capital by 22.3% during the 1st quarter. AQR Capital Management LLC now owns 3,290,411 shares of the insurance provider's stock worth $328,580,000 after purchasing an additional 600,901 shares in the last quarter. Finally, FIL Ltd acquired a new stake in shares of AXIS Capital in the 4th quarter valued at approximately $43,893,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About AXIS Capital

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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