Axis Capital Holdings Limited (NYSE:AXS) Short Interest Down 9.1% in June

Axis Capital Holdings Limited (NYSE:AXS) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,321,900 shares, a drop of 9.1% from the May 15th total of 1,454,600 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 568,400 shares, the days-to-cover ratio is presently 2.3 days.

AXS has been the topic of a number of recent research reports. UBS Group downgraded AGL Energy to a “sell” rating in a research report on Thursday, May 23rd. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. Morgan Stanley set a $10.00 target price on Ford Motor and gave the stock a “hold” rating in a research report on Friday, April 26th. ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Finally, Buckingham Research lifted their price objective on Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $64.00.

Shares of AXS traded down $0.03 on Friday, hitting $59.91. The company’s stock had a trading volume of 602,861 shares, compared to its average volume of 396,013. The firm has a market capitalization of $5.03 billion, a P/E ratio of 31.20, a PEG ratio of 1.46 and a beta of 0.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Axis Capital has a fifty-two week low of $48.27 and a fifty-two week high of $61.58. The business has a 50 day moving average price of $60.17.

Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, April 24th. The insurance provider reported $1.24 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.16). Axis Capital had a return on equity of 3.95% and a net margin of 1.54%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. On average, research analysts predict that Axis Capital will post 4.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, June 27th. Axis Capital’s dividend payout ratio (DPR) is presently 83.33%.

A number of hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in Axis Capital by 32.4% during the fourth quarter. American Century Companies Inc. now owns 388,150 shares of the insurance provider’s stock worth $20,044,000 after buying an additional 95,039 shares during the last quarter. Commonwealth Bank of Australia increased its stake in Axis Capital by 3.5% in the first quarter. Commonwealth Bank of Australia now owns 20,881 shares of the insurance provider’s stock valued at $1,139,000 after purchasing an additional 700 shares in the last quarter. HRT Financial LLC bought a new stake in Axis Capital in the fourth quarter valued at $6,524,000. FMR LLC increased its stake in Axis Capital by 23.9% in the fourth quarter. FMR LLC now owns 4,145,225 shares of the insurance provider’s stock valued at $214,059,000 after purchasing an additional 800,331 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Axis Capital by 25.2% in the first quarter. First Trust Advisors LP now owns 704,168 shares of the insurance provider’s stock valued at $38,574,000 after purchasing an additional 141,827 shares in the last quarter. Hedge funds and other institutional investors own 89.46% of the company’s stock.

About Axis Capital

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, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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