Noteworthy Price Action: What’s Ahead for Axis Capital Holdings Limited After Achieving 52-Week High?

Noteworthy Price Action: What's Ahead for Axis Capital Holdings Limited After Achieving 52 Week High?

The stock of Axis Capital Holdings Limited (NYSE:AXS) hit a new 52-week high and has $73.68 target or 25.00% above today’s $58.94 share price. The 9 months bullish chart indicates low risk for the $5.28B company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $73.68 price target is reached, the company will be worth $1.32B 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 18,155 shares traded hands. Axis Capital Holdings Limited (NYSE:AXS) has risen 6.19% since April 5, 2016 and is uptrending. It has outperformed by 4.23% 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 -3.29% below today’s ($58.94) stock price. Axis Capital Holdings Limited has been the topic of 8 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Janney Capital downgraded the stock to “Neutral” rating in Thursday, May 26 report. UBS downgraded the shares of AXS in a report on Tuesday, February 16 to “Neutral” rating. Citigroup maintained the stock with “Neutral” rating in Thursday, February 4 report. On Thursday, July 30 the stock rating was upgraded by Janney Capital to “Buy”. The company was reinitiated on Friday, August 14 by Morgan Stanley. The firm has “Mkt Perform” rating by JMP Securities given on Tuesday, January 19.

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 turned negative, 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.
Menta Limited accumulated 0.04% or 5,619 shares. Cibc Asset Mgmt, a Ontario – Canada-based fund reported 12,914 shares. M&T Savings Bank holds 0.01% or 13,955 shares in its portfolio. Los Angeles Mngmt & Equity Rech Incorporated reported 32,357 shares or 0.02% of all its holdings. Robeco Institutional Asset Management Bv reported 652,614 shares or 0.27% of all its holdings. First Interstate Comml Bank accumulated 2,000 shares or 0.02% of the stock. Parkside Comml Bank & owns 23 shares or 0% of their US portfolio. Moreover, Oppenheimer & has 0.09% invested in Axis Capital Holdings Limited (NYSE:AXS) for 52,950 shares. Leuthold Gru Ltd Llc, a Minnesota-based fund reported 27,988 shares. Qs Limited Liability Company holds 0.03% of its portfolio in Axis Capital Holdings Limited (NYSE:AXS) for 63,090 shares. Utah Retirement, a Utah-based fund reported 16,582 shares. Capital Fund Mngmt owns 10,450 shares or 0.01% of their US portfolio. Goldman Sachs Gp has invested 0.02% of its portfolio in Axis Capital Holdings Limited (NYSE:AXS). Johnson Inv Counsel last reported 89,979 shares in the company. Moreover, Polar Cap Llp has 0.23% invested in Axis Capital Holdings Limited (NYSE:AXS) for 220,000 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 4 selling transactions for $6.59 million net activity. Gieryn Richard T JR sold $813,784 worth of stock. BUTT MICHAEL A sold $2.87M worth of Axis Capital Holdings Limited (NYSE:AXS) on Friday, September 2.

More notable recent Axis Capital Holdings Limited (NYSE:AXS) news were published by: Reuters.com which released: “Fitch Rates AXIS Capital Holdings Ltd.’s Depositary Shares Issuance ‘BBB'” on November 01, 2016, also Moodys.com with their article: “Moody’s rates AXIS Capital Holdings’ preferred shares Baa3(hyb); stable outlook” published on November 02, 2016, Insurancejournal.com published: “AXIS Capital’s New Bermuda Operation, Harrington Re, Raises $600M” on July 06, 2016. More interesting news about Axis Capital Holdings Limited (NYSE:AXS) were released by: Businesswire.com and their article: “John Tatum Joins AXIS Insurance as Executive Vice President & Head of U.S …” published on July 28, 2016 as well as Businesswire.com‘s news article titled: “A.M. Best Affirms Credit Ratings of AXIS Specialty Limited and AXIS Capital …” with publication date: November 03, 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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