AXIS Capital (NYSE:AXS) Issues Quarterly Earnings Results

AXIS Capital (NYSE:AXS) posted its earnings results on Wednesday. The insurance provider reported $2.97 EPS for the quarter, beating the consensus estimate of $2.68 by $0.29, Zacks reports. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%.

AXIS Capital Stock Performance

Shares of NYSE:AXS traded down $0.57 during trading on Wednesday, reaching $89.88. The company had a trading volume of 1,231,907 shares, compared to its average volume of 701,523. AXIS Capital has a fifty-two week low of $55.56 and a fifty-two week high of $94.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s fifty day moving average price is $89.89 and its 200 day moving average price is $82.24. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95.

AXIS Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 dividend on an annualized basis and a yield of 1.96%. AXIS Capital’s payout ratio is 24.41%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of AXIS Capital from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets assumed coverage on shares of AXIS Capital in a research report on Monday, January 13th. They issued a “market perform” rating and a $93.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Bank of America boosted their target price on AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group raised their price target on AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.25.

About AXIS Capital

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.