AXIS Capital (NYSE:AXS) Announces Earnings Results

AXIS Capital (NYSE:AXS) released its quarterly earnings data on Tuesday. The insurance provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.52 by $0.41, Briefing.com reports. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 20.11%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.23 EPS.

AXIS Capital Trading Down 0.9 %

Shares of NYSE AXS traded down $0.65 during trading hours on Friday, reaching $74.00. The stock had a trading volume of 190,337 shares, compared to its average volume of 604,182. AXIS Capital has a 52-week low of $52.90 and a 52-week high of $78.74. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 0.28 and a beta of 0.89. The business’s fifty day moving average price is $71.47 and its two-hundred day moving average price is $65.74. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, June 28th. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their price target on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $86.00 target price on shares of AXIS Capital in a report on Monday, June 17th. Finally, UBS Group raised their price objective on AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, AXIS Capital has a consensus rating of “Hold” and an average price target of $74.43.

Insiders Place Their Bets

In other news, Director Michael Millegan purchased 1,400 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $71.49 per share, with a total value of $100,086.00. Following the transaction, the director now owns 9,016 shares of the company’s stock, valued at $644,553.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AXIS Capital news, Director Michael Millegan purchased 1,400 shares of the stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $71.49 per share, with a total value of $100,086.00. Following the transaction, the director now owns 9,016 shares of the company’s stock, valued at $644,553.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director W Marston Becker acquired 3,025 shares of AXIS Capital stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $66.58 per share, with a total value of $201,404.50. Following the purchase, the director now directly owns 21,821 shares of the company’s stock, valued at $1,452,842.18. The disclosure for this purchase can be found here. Insiders have bought 6,425 shares of company stock worth $444,351 in the last ninety days. 0.50% of the stock is owned by company insiders.

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.