Short Interest in AXIS Capital Holdings Limited (NYSE:AXS) Drops By 7.8%

AXIS Capital Holdings Limited (NYSE:AXS) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,180,000 shares, a decrease of 7.8% from the August 15th total of 1,280,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 510,300 shares, the short-interest ratio is currently 2.3 days.

AXIS Capital Price Performance

Shares of NYSE AXS traded down $0.08 during midday trading on Wednesday, hitting $79.34. The stock had a trading volume of 383,233 shares, compared to its average volume of 582,182. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $74.87 and a 200-day simple moving average of $69.73. The company has a market capitalization of $6.72 billion, a PE ratio of 12.12, a P/E/G ratio of 0.25 and a beta of 0.89. AXIS Capital has a 1 year low of $52.90 and a 1 year high of $80.50.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.41. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $2.23 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that AXIS Capital will post 10.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group lifted their price target on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Roth Mkm lifted their target price on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America boosted their target price on shares of AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company raised their price target on shares of AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AXIS Capital currently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

Institutional Trading of AXIS Capital

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its holdings in shares of AXIS Capital by 55.6% during the 2nd quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC grew its holdings in AXIS Capital by 80.4% in the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after buying an additional 226 shares in the last quarter. Covestor Ltd increased 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 acquiring an additional 185 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings 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 worth $43,000 after acquiring an additional 148 shares during the period. Finally, TFO Wealth Partners LLC boosted its position in shares of AXIS Capital by 61,675.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,471 shares of the insurance provider’s stock valued at $137,000 after acquiring an additional 2,467 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

AXIS Capital Company Profile

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.