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Downgrade Alert for Axis Capital Holdings (AXS)

By Shiri Gupta

Axis Capital Holdings (NYSE:AXS) was downgraded from Buy to Neutral at Janney Montgomery today. The stock closed yesterday at $54.33 on volume of 416,000 shares, below average daily volume of 431,000.

Axis Capital Holdings has overhead space with shares priced $54.33, or 8.2% below the average consensus analyst price target of $59.17. Axis Capital Holdings shares should first meet resistance at the 50-day moving average (MA) of $54.58 and find additional resistance at the 200-day MA of $54.86.

Axis Capital Holdings share prices have moved between a 52-week high of $60.00 and a 52-week low of $51.01 and closed yesterday at 7% above that low price at $54.33 per share. The 200-day and 50-day moving averages have moved 0.03% lower and 0.04% higher over the past week, respectively.

Axis Capital Holdings Limited provides specialty lines and treaty reinsurance on a global basis. Specialty lines primarily includes onshore and offshore energy, aviation and aerospace, commercial property and marine. Treaty reinsurance covers catastrophe risks such as property, Workers' Compensation, professional liability, casualty, and marine and aviation.

SmarTrend is monitoring the recent change of momentum in Axis Capital Holdings. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Axis Capital Holdings in search of a potential trend change.

Keywords: analyst upgrades/downgrades axis capital holdings

Ticker(s): AXS