Short Interest in AXIS Capital Holdings Limited (NYSE:AXS) Expands By 12.8%

AXIS Capital Holdings Limited (NYSE:AXS) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,320,000 shares, a growth of 12.8% from the September 15th total of 1,170,000 shares. Based on an average daily trading volume, of 528,000 shares, the short-interest ratio is presently 2.5 days. Approximately 1.7% of the company’s shares are sold short.

AXIS Capital Stock Up 1.4 %

NYSE:AXS traded up $1.18 during trading hours on Thursday, reaching $82.82. 8,387 shares of the company traded hands, compared to its average volume of 582,004. AXIS Capital has a 1 year low of $52.90 and a 1 year high of $82.82. The stock has a market capitalization of $7.01 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.27 and a beta of 0.89. The business’s 50-day moving average price is $77.94 and its two-hundred day moving average price is $72.17. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. AXIS Capital’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 EPS. Analysts predict that AXIS Capital will post 10.72 earnings per share for the current year.

AXIS Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.13%. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

Analyst Upgrades and Downgrades

AXS has been the subject of a number of research analyst reports. Roth Mkm raised their price target on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group upped their price target on AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.86.

Institutional Investors Weigh In On AXIS Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in AXIS Capital by 55.6% during the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. GAMMA Investing LLC lifted its position in AXIS Capital by 80.4% during the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 226 shares during the last quarter. Covestor Ltd grew its stake in shares of AXIS Capital by 45.9% in the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after buying an additional 185 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of AXIS Capital by 32.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after buying an additional 148 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of AXIS Capital in the 1st quarter valued at about $201,000. 93.44% of the stock is owned by institutional investors.

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.