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

AXIS Capital Holdings Limited (NYSE:AXSGet Rating) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,400,000 shares, an increase of 29.6% from the September 15th total of 1,080,000 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 428,700 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Ratings Changes

AXS has been the subject of a number of analyst reports. StockNews.com lowered AXIS Capital from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. TheStreet downgraded AXIS Capital from a “b” rating to a “c+” rating in a report on Tuesday, July 26th. Morgan Stanley decreased their target price on AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Friday, August 19th. Finally, Jefferies Financial Group decreased their target price on AXIS Capital from $70.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, AXIS Capital presently has an average rating of “Hold” and a consensus price target of $61.33.

AXIS Capital Stock Up 1.5 %

AXS traded up $0.75 during trading on Monday, reaching $50.74. The stock had a trading volume of 422,603 shares, compared to its average volume of 520,336. The stock’s 50 day moving average is $52.55 and its two-hundred day moving average is $54.73. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 1.59 and a beta of 0.72. AXIS Capital has a one year low of $48.32 and a one year high of $61.39.

AXIS Capital (NYSE:AXSGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. AXIS Capital had a return on equity of 11.81% and a net margin of 8.55%. During the same quarter in the prior year, the company earned $2.00 earnings per share. As a group, analysts expect that AXIS Capital will post 4.59 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 3rd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 3.39%. AXIS Capital’s dividend payout ratio (DPR) is 35.54%.

Hedge Funds Weigh In On AXIS Capital

A number of institutional investors have recently added to or reduced their stakes in the company. Scout Investments Inc. bought a new position in shares of AXIS Capital during the first quarter valued at $56,866,000. Berkley W R Corp bought a new position in shares of AXIS Capital during the second quarter valued at $49,259,000. Dimensional Fund Advisors LP increased its holdings in shares of AXIS Capital by 13.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,146,707 shares of the insurance provider’s stock valued at $190,280,000 after acquiring an additional 381,511 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of AXIS Capital by 24.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,716,687 shares of the insurance provider’s stock valued at $98,004,000 after acquiring an additional 336,679 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of AXIS Capital by 12.9% during the first quarter. American Century Companies Inc. now owns 2,776,823 shares of the insurance provider’s stock valued at $167,914,000 after acquiring an additional 317,806 shares in the last quarter. Institutional investors own 91.70% of the company’s stock.

About AXIS Capital

(Get Rating)

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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