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

AXIS Capital Holdings Limited (NYSE:AXS) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 841,500 shares, a decline of 25.5% from the March 15th total of 1,130,000 shares. Based on an average trading volume of 442,400 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.1% of the company’s shares are short sold.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research cut AXIS Capital from a “hold” rating to a “strong sell” rating and set a $43.00 price objective on the stock. in a research note on Wednesday, March 31st. Deutsche Bank Aktiengesellschaft upped their target price on AXIS Capital from $46.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, March 29th. Morgan Stanley increased their price objective on AXIS Capital from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Bank of America downgraded AXIS Capital from a “neutral” rating to an “underperform” rating in a report on Thursday, January 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. AXIS Capital presently has a consensus rating of “Hold” and a consensus price target of $55.80.

Institutional investors and hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in shares of AXIS Capital during the 4th quarter valued at approximately $31,000. Cypress Point Wealth Management LLC acquired a new stake in AXIS Capital during the fourth quarter worth $34,000. Inspire Advisors LLC acquired a new stake in AXIS Capital during the fourth quarter worth $42,000. Childress Capital Advisors LLC acquired a new stake in AXIS Capital during the fourth quarter worth $59,000. Finally, SG Americas Securities LLC acquired a new stake in AXIS Capital during the fourth quarter worth $156,000. 91.06% of the stock is currently owned by institutional investors.

NYSE:AXS traded up $0.38 on Monday, hitting $53.96. The stock had a trading volume of 342,062 shares, compared to its average volume of 429,225. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -28.99, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $51.07 and its two-hundred day simple moving average is $49.39. AXIS Capital has a 52-week low of $32.82 and a 52-week high of $54.12.

AXIS Capital (NYSE:AXS) last announced its earnings results on Tuesday, January 26th. The insurance provider reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.20. AXIS Capital had a negative return on equity of 2.79% and a negative net margin of 2.53%. The business had revenue of $785.45 million for the quarter, compared to analysts’ expectations of $821.39 million. During the same period last year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts anticipate that AXIS Capital will post -1.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.11%. AXIS Capital’s payout ratio is currently 66.67%.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.

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