Axis Capital (AXS) Hits New 12-Month Low at $50.30

Axis Capital Holdings Limited (NYSE:AXS)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $50.30 and last traded at $51.16, with a volume of 777100 shares changing hands. The stock had previously closed at $51.64.

Several research firms have recently weighed in on AXS. Buckingham Research began coverage on Axis Capital in a research report on Monday, September 11th. They issued a “neutral” rating and a $58.00 target price on the stock. ValuEngine downgraded Axis Capital from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Citigroup upgraded Axis Capital from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a research report on Monday, September 11th. UBS decreased their target price on Axis Capital from $57.00 to $55.00 and set a “sell” rating on the stock in a research report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Axis Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $61.45.

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.51 and a current ratio of 0.51.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($5.35) EPS for the quarter, missing the consensus estimate of ($5.34) by ($0.01). Axis Capital had a negative net margin of 4.55% and a negative return on equity of 2.59%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $972.10 million. During the same period in the prior year, the business posted $1.78 EPS. analysts forecast that Axis Capital Holdings Limited will post -2.2 earnings per share for the current fiscal year.

In related news, EVP Conrad D. Brooks sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $52.31, for a total value of $392,325.00. Following the completion of the sale, the executive vice president now owns 6,027 shares of the company’s stock, valued at $315,272.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.89% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of AXS. Aperio Group LLC increased its holdings in shares of Axis Capital by 8.2% in the second quarter. Aperio Group LLC now owns 4,757 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 361 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in Axis Capital by 1.4% during the second quarter. Candriam Luxembourg S.C.A. now owns 13,034 shares of the insurance provider’s stock worth $843,000 after acquiring an additional 180 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Axis Capital by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 310,951 shares of the insurance provider’s stock worth $20,107,000 after acquiring an additional 2,040 shares during the last quarter. First Trust Advisors LP increased its stake in Axis Capital by 5.2% during the second quarter. First Trust Advisors LP now owns 528,552 shares of the insurance provider’s stock worth $34,176,000 after acquiring an additional 25,923 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Axis Capital by 67.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 66,957 shares of the insurance provider’s stock worth $4,341,000 after acquiring an additional 26,998 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

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About Axis Capital

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

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