Trade Report: Today, Axis Capital Holdings Ltd. (AXS) Earns Sell Rating from Analysts at Citigroup Inc.

Today, Axis Capital Holdings Ltd. (AXS) Earns Sell Rating from Analysts at Citigroup Inc.

Citigroup Inc. started coverage on shares of Axis Capital Holdings Ltd. (NYSE:AXS) in a report released on Tuesday. The brokerage issued a sell rating and a $55.00 price target on the stock.

A number of other research analysts have also weighed in on the company. Goldman Sachs Group Inc. lowered Axis Capital Holdings from a neutral rating to a sell rating in a report on Tuesday, November 15th. Zacks Investment Research upgraded Axis Capital Holdings from a hold rating to a buy rating and set a $66.00 price objective on the stock in a report on Tuesday, November 8th. Finally, Morgan Stanley raised their price objective on Axis Capital Holdings from $59.00 to $60.00 and gave the company an equal weight rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $59.50.

Shares of Axis Capital Holdings (NYSE:AXS) opened at 61.15 on Tuesday. Axis Capital Holdings has a 1-year low of $51.01 and a 1-year high of $62.71. The company has a 50-day moving average of $57.96 and a 200-day moving average of $55.60. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 12.23 and a beta of 0.47.

Axis Capital Holdings (NYSE:AXS) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.73. The company had revenue of $595.43 million for the quarter, compared to analyst estimates of $710.69 million. Axis Capital Holdings had a return on equity of 8.62% and a net margin of 12.81%. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, equities research analysts expect that Axis Capital Holdings will post $4.21 EPS for the current fiscal year.

In other news, Director Michael A. Butt sold 40,673 shares of Axis Capital Holdings stock in a transaction on Friday, October 14th. The stock was sold at an average price of $57.01, for a total transaction of $2,318,767.73. Following the transaction, the director now owns 1,161,675 shares in the company, valued at approximately $66,227,091.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard T. Gieryn, Jr. sold 10,400 shares of Axis Capital Holdings stock in a transaction on Friday, September 9th. The stock was sold at an average price of $56.15, for a total value of $583,960.00. Following the transaction, the executive vice president now owns 15,958 shares in the company, valued at approximately $896,041.70. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. General American Investors Co. Inc. bought a new position in Axis Capital Holdings during the second quarter valued at approximately $10,313,000. Eaton Vance Management raised its position in Axis Capital Holdings by 13.9% in the second quarter. Eaton Vance Management now owns 5,637 shares of the company’s stock valued at $310,000 after buying an additional 686 shares in the last quarter. First Trust Advisors LP raised its position in Axis Capital Holdings by 38.6% in the second quarter. First Trust Advisors LP now owns 406,638 shares of the company’s stock valued at $22,365,000 after buying an additional 113,184 shares in the last quarter. BlueMountain Capital Management LLC raised its position in Axis Capital Holdings by 44.1% in the first quarter. BlueMountain Capital Management LLC now owns 16,439 shares of the company’s stock valued at $912,000 after buying an additional 5,034 shares in the last quarter. Finally, Swiss National Bank raised its position in Axis Capital Holdings by 174.3% in the second quarter. Swiss National Bank now owns 686,946 shares of the company’s stock valued at $37,782,000 after buying an additional 436,500 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.

About Axis Capital Holdings

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