AXIS Capital Holdings Limited (NYSE:AXS) Sees Significant Drop in Short Interest

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) was the target of a significant decline in short interest in 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 stock are sold short. Based on an average daily trading volume, of 711,300 shares, the days-to-cover ratio is currently 2.7 days.

AXIS Capital Trading Up 2.0%

AXS traded up $2.07 during trading on Friday, reaching $107.07. 1,085,788 shares of the stock traded hands, compared to its average volume of 601,626. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.42 billion, a PE ratio of 8.67, a P/E/G ratio of 3.96 and a beta of 0.83. The stock's 50-day moving average is $98.18 and its 200 day moving average is $94.08. AXIS Capital has a 12 month low of $68.02 and a 12 month high of $107.19.

AXIS Capital (NYSE:AXS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.17 EPS for the quarter, beating the consensus estimate of $2.64 by $0.53. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates 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. Equities analysts anticipate that AXIS Capital will post 11.19 earnings per share for the current year.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 30th. AXIS Capital's payout ratio is presently 17.46%.

Hedge Funds Weigh In On AXIS Capital

A number of hedge funds have recently modified their holdings of the company. NBC Securities Inc. bought a new stake in AXIS Capital during the first quarter worth about $33,000. Steward Partners Investment Advisory LLC purchased a new stake in AXIS Capital during the fourth quarter valued at approximately $53,000. IFP Advisors Inc increased its holdings in AXIS Capital by 1,542.9% during the first quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after buying an additional 540 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after buying an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of AXIS Capital in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 93.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AXS. Keefe, Bruyette & Woods upped their price target on AXIS Capital from $114.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group raised their target price on AXIS Capital from $105.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on AXIS Capital from $100.00 to $104.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of AXIS Capital in a research report on Wednesday, May 14th. Finally, JMP Securities restated a "market perform" rating on shares of AXIS Capital in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $107.75.

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.