Notable Runner: Could Axis Capital Holdings Limited Lose its Strength? The Stock Reaches 52-Week High

Notable Runner: Could Axis Capital Holdings Limited Lose its Strength? The Stock Reaches 52 Week High

The stock of Axis Capital Holdings Limited (NYSE:AXS) hit a new 52-week high and has $80.56 target or 39.00% above today’s $57.96 share price. The 7 months bullish chart indicates low risk for the $5.13 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $80.56 price target is reached, the company will be worth $2.00B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 190,003 shares traded hands. Axis Capital Holdings Limited (NYSE:AXS) has risen 1.57% since April 1, 2016 and is uptrending. It has outperformed by 0.36% the S&P500.

Axis Capital Holdings Limited (NYSE:AXS) Ratings Coverage

Out of 6 analysts covering Axis Capital Holdings Limited (NYSE:AXS), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. $61 is the highest target while $54 is the lowest. The $57 average target is -1.66% below today’s ($57.96) stock price. Axis Capital Holdings Limited has been the topic of 8 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Janney Capital upgraded the shares of AXS in a report on Thursday, July 30 to “Buy” rating. The firm has “Neutral” rating by Janney Capital given on Thursday, May 26. Citigroup maintained it with “Neutral” rating and $56 target price in Thursday, February 4 report. UBS downgraded the shares of AXS in a report on Tuesday, February 16 to “Neutral” rating. JMP Securities downgraded Axis Capital Holdings Limited (NYSE:AXS) on Tuesday, January 19 to “Mkt Perform” rating. The stock has “Equal-Weight” rating given by Morgan Stanley on Friday, August 14.

According to Zacks Investment Research, “AXIS Capital Holdings Limited is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.03, from 0.95 in 2016Q1. The ratio fall, as 21 funds sold all Axis Capital Holdings Limited shares owned while 99 reduced positions. 18 funds bought stakes while 92 increased positions. They now own 80.06 million shares or 0.74% more from 79.47 million shares in 2016Q1.
Andra Ap reported 212,500 shares or 0.3% of all its holdings. The New York-based Spears Abacus Advisors Llc has invested 0.54% in Axis Capital Holdings Limited (NYSE:AXS). Dimensional Fund Advsr Lp owns 2.49M shares or 0.08% of their US portfolio. Deere And Co reported 15,508 shares or 0.05% of all its holdings. Ifrah Fin Svcs holds 0.11% of its portfolio in Axis Capital Holdings Limited (NYSE:AXS) for 4,874 shares. Moreover, Geneva Advsrs Ltd Liability has 0.01% invested in Axis Capital Holdings Limited (NYSE:AXS) for 10,724 shares. Northern Tru Corporation has invested 0.02% of its portfolio in Axis Capital Holdings Limited (NYSE:AXS). Keybank Association Oh owns 19,922 shares or 0.01% of their US portfolio. Moreover, Calvert Investment Management Incorporated has 0.02% invested in Axis Capital Holdings Limited (NYSE:AXS) for 7,177 shares. Livforsakringsbolaget Skandia Omsesidigt, a Sweden-based fund reported 10,723 shares. Alliancebernstein L P accumulated 0% or 94,413 shares. Robeco Institutional Asset Mgmt Bv has 652,614 shares for 0.27% of their US portfolio. Clear Harbor Asset Management Limited Liability Company reported 175,864 shares or 2.1% of all its holdings. Cadence Management Ltd Llc accumulated 0.07% or 16,028 shares. The Ontario – Canada-based Td Asset Inc has invested 0% in Axis Capital Holdings Limited (NYSE:AXS).

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 4 insider sales for $6.59 million net activity. Another trade for 10,400 shares valued at $583,975 was sold by Gieryn Richard T JR. $2.32 million worth of shares were sold by BUTT MICHAEL A on Thursday, October 13.

More notable recent Axis Capital Holdings Limited (NYSE:AXS) news were published by: Moodys.com which released: “Moody’s rates AXIS Capital Holdings’ preferred shares Baa3(hyb); stable outlook” on November 02, 2016, also Reuters.com with their article: “Fitch Rates AXIS Capital Holdings Ltd.’s Depositary Shares Issuance ‘BBB'” published on November 01, 2016, Businesswire.com published: “AXIS Capital Prices Offering of $550000000 of 5.50% Series E Preferred Shares” on October 31, 2016. More interesting news about Axis Capital Holdings Limited (NYSE:AXS) were released by: Insurancejournal.com and their article: “AXIS Capital’s New Bermuda Operation, Harrington Re, Raises $600M” published on July 06, 2016 as well as Businesswire.com‘s news article titled: “John Tatum Joins AXIS Insurance as Executive Vice President & Head of U.S …” with publication date: July 28, 2016.

AXS Company Profile

AXIS Capital Holdings Limited, incorporated on December 9, 2002, is a holding firm for the AXIS group of companies. The Firm provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. The Firm operates in two divisions: AXIS Insurance and AXIS Re. The Firm also has marketing offices in Brazil, France and Spain.

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