AXIS Capital Holdings Limited (AXS) Draws Bearish Attention After Forming Bearish Wedge Down Chart Pattern

AXIS Capital Holdings Limited (NYSE:AXS) Logo

Investors sentiment decreased to 0.94 in 2018 Q2. Its down 0.08, from 1.02 in 2018Q1. It dropped, as 20 investors sold AXIS Capital Holdings Limited shares while 97 reduced holdings. 39 funds opened positions while 71 raised stakes. 73.48 million shares or 0.52% less from 73.87 million shares in 2018Q1 were reported.
6,668 are held by Dekabank Deutsche Girozentrale. Shine Investment Advisory Svcs holds 0.01% or 352 shares in its portfolio. Meiji Yasuda Life Ins has invested 0.06% in AXIS Capital Holdings Limited (NYSE:AXS). State Street Corporation invested 0.01% of its portfolio in AXIS Capital Holdings Limited (NYSE:AXS). Oregon Pub Employees Retirement Fund invested in 11,023 shares or 0.01% of the stock. United Kingdom-based Barclays Public Limited Com has invested 0% in AXIS Capital Holdings Limited (NYSE:AXS). Lockheed Martin Invest Com holds 0.02% of its portfolio in AXIS Capital Holdings Limited (NYSE:AXS) for 8,500 shares. Moreover, Centurylink Investment Mgmt Company has 0.52% invested in AXIS Capital Holdings Limited (NYSE:AXS) for 24,306 shares. Los Angeles Cap Mngmt Equity Research holds 0.04% in AXIS Capital Holdings Limited (NYSE:AXS) or 115,560 shares. Us Bancorporation De invested 0% of its portfolio in AXIS Capital Holdings Limited (NYSE:AXS). Caisse De Depot Et Placement Du Quebec invested in 0% or 23,500 shares. Financial Bank Of America De reported 369,519 shares or 0% of all its holdings. 22,308 are held by Oppenheimer & Inc. Amundi Pioneer Asset Mngmt Incorporated owns 151,144 shares or 0.01% of their US portfolio. M&T National Bank Corporation has invested 0% in AXIS Capital Holdings Limited (NYSE:AXS).

The stock of AXIS Capital Holdings Limited (AXS) formed a down wedge with $49.63 target or 8.00 % below today’s $53.95 share price. The 8 months wedge indicates high risk for the $4.51B company. If the $49.63 price target is reached, the company will be worth $360.72 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.61% or $0.33 during the last trading session, reaching $53.95. About 396,097 shares traded. AXIS Capital Holdings Limited (NYSE:AXS) has declined 6.01% since December 6, 2017 and is downtrending. It has underperformed by 21.63% the S&P500.

Analysts await AXIS Capital Holdings Limited (NYSE:AXS) to report earnings on February, 6. They expect $0.03 EPS, down 87.50 % or $0.21 from last year’s $0.24 per share. AXS’s profit will be $2.51 million for 449.58 P/E if the $0.03 EPS becomes a reality. After $0.96 actual EPS reported by AXIS Capital Holdings Limited for the previous quarter, Wall Street now forecasts -96.88 % negative EPS growth.

AXIS Capital Holdings Limited (NYSE:AXS) Ratings Coverage

Among 3 analysts covering Axis Capital Holdings (NYSE:AXS), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Axis Capital Holdings had 3 analyst reports since June 18, 2018 according to SRatingsIntel. The rating was maintained by Morgan Stanley with “Equal-Weight” on Wednesday, November 14. Citigroup maintained the stock with “Neutral” rating in Thursday, August 2 report.

More notable recent AXIS Capital Holdings Limited (NYSE:AXS) news were published by: Seekingalpha.com which released: “Axis On Sale – Seeking Alpha” on March 16, 2018, also Zacks.com with their article: “Chubb (CB) Provides Q4 Catastrophe Loss Estimate of $195M – Zacks.com” published on December 04, 2018, Businesswire.com published: “AXIS Capital to Release Third Quarter Financial Results on October 24, 2018 – Business Wire” on October 04, 2018. More interesting news about AXIS Capital Holdings Limited (NYSE:AXS) were released by: Seekingalpha.com and their article: “Axis Capital Holdings (AXS) Presents At Bank Of America Merrill Lynch 2018 Insurance Conference – Slideshow – Seeking Alpha” published on February 16, 2018 as well as Businesswire.com‘s news article titled: “AXIS Creates Consolidated Global Cyber & Technology Unit – Business Wire” with publication date: November 28, 2018.

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. The company has market cap of $4.51 billion. It operates through two divisions, Insurance and Reinsurance. It has a 28.04 P/E ratio. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.

AXIS Capital Holdings Limited (NYSE:AXS) Ratings Chart

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