Short Interest in AXIS Capital Holdings Limited (NYSE:AXS) Grows By 12.8%

AXIS Capital Holdings Limited (NYSE:AXS) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,320,000 shares, an increase of 12.8% from the September 15th total of 1,170,000 shares. Based on an average trading volume of 528,000 shares, the short-interest ratio is presently 2.5 days. Approximately 1.7% of the shares of the company are sold short.

Hedge Funds Weigh In On AXIS Capital

Several hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of AXIS Capital by 80.4% in the second quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 226 shares in the last quarter. Covestor Ltd increased its stake in shares of AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position 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 purchasing an additional 148 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in AXIS Capital in the 1st quarter valued at approximately $201,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

AXIS Capital Price Performance

Shares of NYSE:AXS opened at $80.92 on Tuesday. The company has a market cap of $6.85 billion, a P/E ratio of 12.37, a PEG ratio of 0.27 and a beta of 0.89. The company has a 50-day moving average price of $77.55 and a 200 day moving average price of $71.99. AXIS Capital has a 52 week low of $52.90 and a 52 week high of $82.33. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30.

AXIS Capital (NYSE:AXS) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.41. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. AXIS Capital’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 earnings per share. Research analysts predict that AXIS Capital will post 10.72 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. AXIS Capital’s dividend payout ratio (DPR) is 26.91%.

Wall Street Analyst Weigh In

AXS has been the topic of several research reports. Bank of America raised their price objective on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Roth Mkm boosted their price objective on AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Finally, UBS Group upped their target price on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, AXIS Capital currently has an average rating of “Moderate Buy” and an average price target of $92.86.

About AXIS Capital

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.