Axis Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.40 per share by the insurance provider on Monday, July 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Thursday, June 27th.
Axis Capital has increased its dividend payment by an average of 10.4% annually over the last three years and has raised its dividend every year for the last 12 years. Axis Capital has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Axis Capital to earn $5.25 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.5%.
Shares of NYSE AXS traded up $0.28 during midday trading on Tuesday, reaching $60.05. 1,257 shares of the company traded hands, compared to its average volume of 559,772. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.46 and a beta of 0.35. The business’s 50-day moving average price is $59.38. Axis Capital has a 12 month low of $48.27 and a 12 month high of $60.92. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.
Axis Capital (NYSE:AXS) last announced its earnings results on Wednesday, April 24th. The insurance provider reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.16). Axis Capital had a net margin of 1.54% and a return on equity of 3.95%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $1.46 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts expect that Axis Capital will post 4.81 earnings per share for the current fiscal year.
A number of brokerages recently commented on AXS. UBS Group upgraded Axis Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $67.00 in a research report on Thursday, May 23rd. ValuEngine upgraded Axis Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley set a $62.00 price objective on Axis Capital and gave the stock a “hold” rating in a research report on Friday, April 26th. TheStreet upgraded Axis Capital from a “c” rating to a “b-” rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Axis Capital from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.00.
Axis Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.
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