Axis Capital Holdings Limited (NYSE:AXS) traded down 7.5% on Tuesday . The company traded as low as $55.70 and last traded at $55.89. 968,410 shares changed hands during mid-day trading, an increase of 130% from the average session volume of 421,642 shares. The stock had previously closed at $60.39.

A number of brokerages recently issued reports on AXS. Citigroup Inc. boosted their price target on Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a “sell” rating in a report on Thursday, July 13th. Wells Fargo & Company reiterated a “sell” rating on shares of Axis Capital Holdings Limited in a report on Thursday, July 27th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 target price (up previously from $68.00) on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Zacks Investment Research raised Axis Capital Holdings Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, BidaskClub cut Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Axis Capital Holdings Limited presently has a consensus rating of “Hold” and an average price target of $67.11.

The company’s 50-day moving average price is $63.63 and its 200 day moving average price is $65.43. The firm has a market capitalization of $4.65 billion, a PE ratio of 12.33 and a beta of 0.61.

Axis Capital Holdings Limited (NYSE:AXS) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a net margin of 10.81% and a return on equity of 9.17%. The company had revenue of $956.02 million during the quarter, compared to analysts’ expectations of $989.95 million. During the same quarter in the prior year, the company earned $0.51 EPS. Axis Capital Holdings Limited’s revenue was down 5.1% compared to the same quarter last year. On average, analysts expect that Axis Capital Holdings Limited will post $3.92 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Axis Capital Holdings Limited by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 8,151,654 shares of the insurance provider’s stock valued at $546,405,000 after acquiring an additional 234,043 shares in the last quarter. BlackRock Inc. grew its stake in Axis Capital Holdings Limited by 3,740.9% during the 1st quarter. BlackRock Inc. now owns 6,741,122 shares of the insurance provider’s stock valued at $451,855,000 after acquiring an additional 6,565,613 shares in the last quarter. State Street Corp grew its stake in Axis Capital Holdings Limited by 2.6% during the 1st quarter. State Street Corp now owns 3,093,192 shares of the insurance provider’s stock valued at $207,334,000 after acquiring an additional 79,832 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Axis Capital Holdings Limited by 1.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,678,214 shares of the insurance provider’s stock valued at $108,514,000 after acquiring an additional 27,465 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Axis Capital Holdings Limited by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,143,841 shares of the insurance provider’s stock valued at $73,960,000 after acquiring an additional 14,526 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

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About Axis Capital Holdings Limited

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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