Axis Capital (NYSE:AXS) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Axis Capital Holdings Limited (NYSE:AXS) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $101.97 and traded as low as $100.68. Axis Capital shares last traded at $101.2470, with a volume of 722,965 shares changing hands.

Wall Street Analysts Forecast Growth

AXS has been the subject of several recent research reports. Atlantic Securities set a $122.00 price target on shares of Axis Capital in a research report on Wednesday, July 15th. Mizuho decreased their target price on Axis Capital from $118.00 to $116.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Capital One Financial set a $108.00 target price on Axis Capital in a research note on Wednesday, July 29th. Citigroup reissued a “neutral” rating on shares of Axis Capital in a research note on Thursday. Finally, Zacks Research upgraded Axis Capital from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

Axis Capital Stock Up 1.7%

The business’s fifty day moving average price is $98.73 and its 200 day moving average price is $101.99. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 3.55 and a beta of 0.45. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.26.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Wednesday, October 28th. The insurance provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.27. Axis Capital had a return on equity of 16.61% and a net margin of 14.62%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company posted $3.25 earnings per share. On average, equities analysts expect that Axis Capital Holdings Limited will post 12.38 EPS for the current year.

Axis Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, September 30th. Axis Capital’s payout ratio is presently 12.50%.

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 AXS. Sumitomo Mitsui Trust Group Inc. increased its holdings in Axis Capital by 42.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,270 shares of the insurance provider’s stock worth $496,000 after buying an additional 1,570 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Axis Capital in the third quarter valued at approximately $150,000. Parcion Private Wealth LLC lifted its stake in Axis Capital by 20.1% in the third quarter. Parcion Private Wealth LLC now owns 5,166 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 866 shares during the last quarter. Childress Capital Advisors LLC bought a new stake in Axis Capital in the third quarter worth approximately $268,000. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Axis Capital by 340.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,609 shares of the insurance provider’s stock worth $152,000 after acquiring an additional 1,244 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

About Axis Capital

Axis Capital Holdings Limited (NYSE: AXS) is a Bermuda-based specialty insurance and reinsurance company. Through its operating subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurers facing complex or difficult-to-place risks.

AXIS offers a range of commercial property and casualty insurance products, including professional liability, cyber, marine, aviation, energy, environmental, political risk, credit and surety, and accident and health coverage.