AXIS Capital Holdings Limited Declares Quarterly Dividend of $0.43 (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXSGet Rating) declared a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Shareholders of record on Monday, October 3rd will be given a dividend of 0.43 per share by the insurance provider on Tuesday, October 18th. This represents a $1.72 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, September 30th.

AXIS Capital has increased its dividend payment by an average of 2.5% annually over the last three years and has increased its dividend every year for the last 18 years. AXIS Capital has a payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AXIS Capital to earn $7.03 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 24.5%.

AXIS Capital Trading Down 0.7 %

Shares of AXIS Capital stock traded down $0.38 during trading hours on Thursday, reaching $51.83. The stock had a trading volume of 647,975 shares, compared to its average volume of 517,287. The firm has a 50 day simple moving average of $52.98 and a two-hundred day simple moving average of $55.28. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. AXIS Capital has a 1 year low of $44.49 and a 1 year high of $61.39. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.66 and a beta of 0.72.

AXIS Capital (NYSE:AXSGet Rating) last released its earnings results on Tuesday, July 26th. The insurance provider reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.21. AXIS Capital had a return on equity of 11.81% and a net margin of 8.55%. During the same quarter in the prior year, the firm posted $2.00 EPS. As a group, equities research analysts anticipate that AXIS Capital will post 6.4 earnings per share for the current year.

Wall Street Analyst Weigh In

AXS has been the subject of several recent research reports. Jefferies Financial Group lowered their price target on AXIS Capital from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. TheStreet lowered AXIS Capital from a “b” rating to a “c+” rating in a research note on Tuesday, July 26th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a report on Sunday, August 14th. Finally, Morgan Stanley reduced their price target on shares of AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.33.

Institutional Trading of AXIS Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXS. Vanguard Group Inc. boosted its stake in shares of AXIS Capital by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,948,453 shares of the insurance provider’s stock valued at $480,644,000 after buying an additional 288,068 shares during the period. Charles Schwab Investment Management Inc. increased its position in AXIS Capital by 41.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 888,853 shares of the insurance provider’s stock worth $53,749,000 after purchasing an additional 260,639 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of AXIS Capital by 38.5% in the 1st quarter. Renaissance Technologies LLC now owns 557,496 shares of the insurance provider’s stock valued at $33,712,000 after acquiring an additional 155,000 shares during the last quarter. State Street Corp boosted its stake in shares of AXIS Capital by 10.5% during the second quarter. State Street Corp now owns 1,571,838 shares of the insurance provider’s stock valued at $90,408,000 after purchasing an additional 148,749 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in AXIS Capital by 52.4% during the 1st quarter. Allianz Asset Management GmbH now owns 302,316 shares of the insurance provider’s stock worth $18,282,000 after acquiring an additional 103,905 shares during the last quarter. 91.70% of the stock is owned by institutional investors.

AXIS Capital Company Profile

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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, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.

See Also

Dividend History for AXIS Capital (NYSE:AXS)

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