AXIS Capital Holdings Limited Declares Quarterly Dividend of $0.44 (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXSGet Free Report) declared a quarterly dividend on Thursday, May 16th, Wall Street Journal reports. Investors of record on Friday, June 28th will be given a dividend of 0.44 per share by the insurance provider on Thursday, July 18th. This represents a $1.76 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, June 28th.

AXIS Capital has increased its dividend by an average of 2.2% annually over the last three years. AXIS Capital has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AXIS Capital to earn $10.93 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 16.1%.

AXIS Capital Stock Performance

NYSE:AXS opened at $71.45 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.62 and a current ratio of 0.62. AXIS Capital has a fifty-two week low of $51.61 and a fifty-two week high of $71.69. The business has a 50 day moving average price of $64.53 and a 200-day moving average price of $59.65. The firm has a market cap of $6.05 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.80.

AXIS Capital (NYSE:AXSGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 EPS. Equities research analysts predict that AXIS Capital will post 10.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXS has been the topic of a number of research analyst reports. UBS Group boosted their price target on AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, February 5th. Keefe, Bruyette & Woods upped their price objective on shares of AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company upped their target price on shares of AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.33.

Get Our Latest Analysis on AXIS Capital

Insider Buying and Selling at AXIS Capital

In other news, Director W Marston Becker purchased 3,025 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the purchase, the director now directly owns 21,821 shares in the company, valued at approximately $1,452,842.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

AXIS Capital Company Profile

(Get Free Report)

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.

Further Reading

Dividend History for AXIS Capital (NYSE:AXS)

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