Axis Capital (NYSE:AXS) Stock Breaks Below 200-Day Moving Average - Here's What Happened

Key Points

• Axis Capital shares fell below their 200-day moving average, trading as low as $100.68 versus the $101.97 average, before last trading at $101.25.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $119.08; TD Cowen set a $130 target while Mizuho lowered its target to $116.
• Axis Capital exceeded quarterly earnings and revenue expectations, reporting $3.12 in EPS and $1.79 billion in revenue. The company also pays a quarterly dividend of $0.44 per share, representing a 1.7% yield.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $101.97 and traded as low as $100.68. Axis Capital shares last traded at $101.2470, with a volume of 722,965 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AXS shares. Weiss Ratings raised Axis Capital from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. TD Cowen reissued a "buy" rating and issued a $130.00 price objective on shares of Axis Capital in a research note on Tuesday, August 25th. BMO Capital Markets reissued a "market perform" rating on shares of Axis Capital in a report on Wednesday, July 29th. Mizuho cut their price objective on Axis Capital from $118.00 to $116.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Finally, Zacks Research raised shares of Axis Capital from a "strong sell" rating to a "hold" rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $119.08.

Axis Capital Trading Down 1.0%

The company has a market cap of $7.39 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26. The business has a 50 day simple moving average of $98.54 and a two-hundred day simple moving average of $101.97.

Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Wednesday, October 28th. The insurance provider reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.27. Axis Capital had a return on equity of 17.00% and a net margin of 16.23%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business posted $3.25 earnings per share. On average, analysts forecast that Axis Capital Holdings Limited will post 12.44 EPS for the current fiscal year.

Axis Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital's dividend payout ratio is currently 12.50%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Axis Capital by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,682,238 shares of the insurance provider's stock valued at $373,412,000 after purchasing an additional 299,573 shares during the period. Janus Henderson Group PLC raised its stake in Axis Capital by 1.2% during the first quarter. Janus Henderson Group PLC now owns 1,710,902 shares of the insurance provider's stock worth $173,504,000 after purchasing an additional 21,001 shares during the period. Swedbank AB raised its stake in Axis Capital by 14.0% during the first quarter. Swedbank AB now owns 1,362,091 shares of the insurance provider's stock worth $138,130,000 after purchasing an additional 167,337 shares during the period. Jennison Associates LLC raised its stake in Axis Capital by 2.2% during the first quarter. Jennison Associates LLC now owns 1,071,887 shares of the insurance provider's stock worth $108,700,000 after purchasing an additional 23,109 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Axis Capital by 31.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 979,944 shares of the insurance provider's stock valued at $99,376,000 after purchasing an additional 234,353 shares during the last quarter. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Axis Capital Company Profile

Axis Capital Holdings Limited NYSE: AXS is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.

AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.

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