Axis Capital Holdings Limited (NYSE:AXS) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, June 27th.
Axis Capital has raised its dividend payment by an average of 10.4% per year 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 research 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%.
Axis Capital stock traded up $0.07 during midday trading on Tuesday, hitting $59.84. 6,347 shares of the stock were exchanged, compared to its average volume of 559,772. The firm has a fifty day moving average price of $59.38. Axis Capital has a 52 week low of $48.27 and a 52 week high of $60.92. The stock has a market capitalization of $5.01 billion, a PE ratio of 31.29, a PEG ratio of 1.46 and a beta of 0.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.
Several research firms recently weighed in on AXS. Keefe, Bruyette & Woods raised shares of Axis Capital from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $61.00 to $67.00 in a research note on Wednesday, March 13th. UBS Group raised shares of 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 note on Thursday, May 23rd. TheStreet raised shares of Axis Capital from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Axis Capital from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, April 2nd. Finally, Morgan Stanley set a $62.00 price objective on shares of Axis Capital and gave the stock a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price 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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