Axis Capital Holdings Limited (AXS) to Issue Quarterly Dividend of $0.38 on October 16th
Axis Capital Holdings Limited (NYSE:AXS) announced a quarterly dividend on Wednesday, September 27th, Fidelity reports. Stockholders of record on Monday, October 9th will be paid a dividend of 0.38 per share by the insurance provider on Monday, October 16th. This represents a $1.52 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, October 5th. This is a boost from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29.
Axis Capital Holdings Limited has raised its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 10 years. Axis Capital Holdings Limited has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Axis Capital Holdings Limited to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 31.1%.
Shares of Axis Capital Holdings Limited (NYSE AXS) traded up 0.30% during midday trading on Friday, hitting $57.31. The stock had a trading volume of 587,149 shares. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 12.65 and a beta of 0.61. Axis Capital Holdings Limited has a 12 month low of $52.15 and a 12 month high of $71.06. The stock’s 50 day moving average price is $61.28 and its 200 day moving average price is $64.48.
Axis Capital Holdings Limited (NYSE:AXS) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. The business had revenue of $956.02 million for the quarter, compared to analysts’ expectations of $989.95 million. Axis Capital Holdings Limited had a return on equity of 9.17% and a net margin of 10.81%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that Axis Capital Holdings Limited will post $4.02 EPS for the current fiscal year.
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Several research analysts have recently commented on the company. ValuEngine raised Axis Capital Holdings Limited from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Axis Capital Holdings Limited in a research note on Friday, June 2nd. BidaskClub downgraded Axis Capital Holdings Limited from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Axis Capital Holdings Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price objective (up previously from $68.00) on shares of Axis Capital Holdings Limited in a research note on Thursday, July 6th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.60.
Axis Capital Holdings Limited Company Profile
AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.
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