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

AXIS Capital Holdings Limited (NYSE:AXS - Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,480,000 shares, an increase of 49.1% from the January 31st total of 992,500 shares. Approximately 1.9% of the company's stock are sold short. Based on an average daily trading volume, of 633,400 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research note on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of AXIS Capital in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 14th. TD Cowen boosted their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.88.

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Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Charles A. Davis sold 2,139,037 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $93.50, for a total transaction of $199,999,959.50. Following the completion of the transaction, the director now owns 2,404,133 shares in the company, valued at $224,786,435.50. The trade was a 47.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On AXIS Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of AXIS Capital during the 3rd quarter worth approximately $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AXIS Capital in the fourth quarter worth $53,000. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider's stock valued at $59,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AXIS Capital by 73.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 671 shares of the insurance provider's stock valued at $59,000 after acquiring an additional 285 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in AXIS Capital during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 93.44% of the company's stock.

AXIS Capital Price Performance

Shares of AXS traded down $0.72 during mid-day trading on Friday, hitting $91.94. The company's stock had a trading volume of 158,593 shares, compared to its average volume of 548,281. The firm has a market capitalization of $7.43 billion, a P/E ratio of 7.44, a P/E/G ratio of 3.96 and a beta of 0.95. AXIS Capital has a 1-year low of $60.45 and a 1-year high of $98.11. The firm has a 50-day simple moving average of $90.77 and a 200 day simple moving average of $85.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27.

AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Analysts predict that AXIS Capital will post 11.19 EPS for the current fiscal year.

AXIS Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, March 31st. This represents a $1.76 annualized dividend and a yield of 1.91%. AXIS Capital's dividend payout ratio (DPR) is currently 14.25%.

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.