AXIS Capital Holdings Limited (NYSE:AXS) Sees Large Growth in Short Interest

AXIS Capital Holdings Limited (NYSE:AXSGet Rating) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,040,000 shares, an increase of 12.6% from the August 15th total of 923,700 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 403,700 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXS. US Bancorp DE raised its position in AXIS Capital by 447.2% in the 1st quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 398 shares during the period. Lazard Asset Management LLC purchased a new position in AXIS Capital in the 1st quarter worth $33,000. Meeder Asset Management Inc. raised its position in AXIS Capital by 125.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 804 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 447 shares during the period. Private Trust Co. NA purchased a new position in AXIS Capital in the 2nd quarter worth $46,000. Finally, Salem Investment Counselors Inc. purchased a new position in AXIS Capital in the 2nd quarter worth $65,000. 91.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on AXS shares. Jefferies Financial Group lowered their price target on shares of AXIS Capital from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Sunday, August 14th. TheStreet lowered shares of AXIS Capital from a “b” rating to a “c+” rating in a research report on Tuesday, July 26th. Finally, Morgan Stanley lowered their price target on shares of AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.33.

AXIS Capital Stock Down 2.9 %

Shares of NYSE:AXS opened at $53.03 on Wednesday. The firm has a fifty day moving average price of $53.00 and a two-hundred day moving average price of $55.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.57 and a quick ratio of 0.57. AXIS Capital has a one year low of $44.49 and a one year high of $61.39. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.67 and a beta of 0.72.

AXIS Capital (NYSE:AXSGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The insurance provider reported $1.74 EPS for the quarter, beating the consensus estimate of $1.53 by $0.21. AXIS Capital had a net margin of 8.55% and a return on equity of 11.81%. During the same period in the prior year, the business posted $2.00 earnings per share. Analysts anticipate that AXIS Capital will post 6.4 EPS for the current fiscal year.

AXIS Capital Company Profile

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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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