AXIS Capital (NYSE:AXS) Issues Quarterly Earnings Results

AXIS Capital (NYSE:AXS) released its quarterly earnings results on Wednesday. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.17, Zacks reports. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.

AXIS Capital Price Performance

AXS stock traded up $0.21 during trading on Friday, hitting $65.39. 682,791 shares of the stock traded hands, compared to its average volume of 646,238. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.28 and a beta of 0.80. AXIS Capital has a one year low of $51.61 and a one year high of $66.74. The company has a 50 day simple moving average of $62.84 and a 200 day simple moving average of $58.73.

AXIS Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Friday, March 1st. AXIS Capital’s dividend payout ratio (DPR) is currently 26.91%.

Insider Transactions at AXIS Capital

In other AXIS Capital news, Director Stanley A. Galanski purchased 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $58.45 per share, for a total transaction of $409,150.00. Following the transaction, the director now directly owns 9,763 shares in the company, valued at $570,647.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

AXS has been the topic of several recent research reports. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company decreased their price target on shares of AXIS Capital from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Thursday, April 11th. UBS Group increased their price objective on shares of AXIS Capital from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AXIS Capital from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.33.

AXIS Capital Company Profile

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.