Investors Buy Large Volume of Put Options on AXIS Capital (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS) was the target of some unusual options trading on Wednesday. Stock traders purchased 4,655 put options on the company. This is an increase of approximately 3,453% compared to the typical daily volume of 131 put options.

AXS has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on AXIS Capital from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, August 16th. JMP Securities reaffirmed a “hold” rating on shares of AXIS Capital in a research report on Wednesday, August 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AXIS Capital has a consensus rating of “Hold” and an average target price of $59.00.

Large investors have recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of AXIS Capital by 16.1% during the first quarter. Jennison Associates LLC now owns 760,427 shares of the insurance provider’s stock worth $37,694,000 after acquiring an additional 105,548 shares during the period. Alaska Permanent Fund Corp bought a new stake in shares of AXIS Capital during the second quarter worth approximately $2,362,000. Benedict Financial Advisors Inc. boosted its holdings in shares of AXIS Capital by 14.7% during the first quarter. Benedict Financial Advisors Inc. now owns 20,901 shares of the insurance provider’s stock worth $1,036,000 after acquiring an additional 2,677 shares during the period. IndexIQ Advisors LLC bought a new stake in shares of AXIS Capital during the first quarter worth approximately $391,000. Finally, Swiss National Bank boosted its holdings in shares of AXIS Capital by 1.0% during the first quarter. Swiss National Bank now owns 192,600 shares of the insurance provider’s stock worth $9,547,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 90.09% of the company’s stock.

NYSE AXS traded down $0.05 during trading on Wednesday, reaching $46.93. 31,051 shares of the company’s stock were exchanged, compared to its average volume of 405,110. The business has a 50 day moving average price of $50.52 and a 200-day moving average price of $51.73. The stock has a market capitalization of $3.98 billion, a P/E ratio of 15.15, a PEG ratio of 1.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.58 and a quick ratio of 0.58. AXIS Capital has a fifty-two week low of $42.17 and a fifty-two week high of $58.61.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings results on Monday, July 26th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.55. AXIS Capital had a return on equity of 4.11% and a net margin of 5.79%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. On average, analysts forecast that AXIS Capital will post 4.83 earnings per share for the current year.

AXIS Capital Company Profile

AXIS Capital Holdings Ltd. engages in the provision of various insurance and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, political risk, professional lines, liability, and accident, and health insurance products.

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