Shares of Axis Capital Holdings Limited (NYSE:AXS) have earned an average rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.67.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Axis Capital from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Wells Fargo & Co reiterated a “hold” rating and set a $60.00 target price on shares of Axis Capital in a report on Thursday, November 8th. Citigroup set a $60.00 target price on Axis Capital and gave the stock a “hold” rating in a report on Thursday, November 8th. TheStreet upgraded Axis Capital from a “c” rating to a “b-” rating in a report on Thursday, October 25th. Finally, Morgan Stanley reduced their target price on Axis Capital from $65.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, November 14th.
Institutional investors and hedge funds have recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its position in shares of Axis Capital by 179.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,900 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 1,220 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Axis Capital in the 3rd quarter worth approximately $119,000. Advisors Asset Management Inc. boosted its position in shares of Axis Capital by 83.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,086 shares of the insurance provider’s stock worth $172,000 after purchasing an additional 1,404 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of Axis Capital in the 3rd quarter worth approximately $233,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Axis Capital in the 2nd quarter worth approximately $230,000. 89.61% of the stock is currently owned by hedge funds and other institutional investors.
Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, October 24th. The insurance provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.27. Axis Capital had a return on equity of 8.02% and a net margin of 3.91%. The firm had revenue of $919.94 million for the quarter, compared to the consensus estimate of $987.27 million. During the same quarter in the prior year, the business earned ($5.35) EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that Axis Capital will post 3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $0.40 dividend. This is a boost from Axis Capital’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, December 28th. Axis Capital’s payout ratio is currently -49.52%.
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 for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.
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