AXIS Capital (NYSE:AXS) Posts Quarterly Earnings Results, Beats Estimates By $0.41 EPS

AXIS Capital (NYSE:AXS) posted its earnings results on Tuesday. The insurance provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.52 by $0.41, Briefing.com reports. AXIS Capital had a net margin of 11.28% and a return on equity of 20.11%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $2.23 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year.

AXIS Capital Stock Down 1.5 %

AXS stock traded down $1.12 during mid-day trading on Thursday, reaching $74.63. 550,839 shares of the company traded hands, compared to its average volume of 607,034. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average price is $71.41 and its 200 day moving average price is $65.68. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.27 and a beta of 0.90. AXIS Capital has a fifty-two week low of $52.90 and a fifty-two week high of $78.74.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were issued a $0.44 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.36%. AXIS Capital’s dividend payout ratio is presently 26.91%.

Insider Activity

In related news, Director Michael Millegan purchased 1,400 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average cost 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 approximately $644,553.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director W Marston Becker purchased 3,025 shares of AXIS Capital stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the completion of the transaction, the director now owns 21,821 shares in the company, valued at $1,452,842.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Millegan bought 1,400 shares of AXIS Capital stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $71.49 per share, with a total value of $100,086.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at $644,553.84. The disclosure for this purchase can be found here. Insiders have purchased 6,425 shares of company stock worth $444,351 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXS shares. StockNews.com raised AXIS Capital from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. UBS Group upped their price objective on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Roth Mkm increased their price objective on shares of AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America upped their target price on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company increased their price target on AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, AXIS Capital has a consensus rating of “Hold” and an average price target of $74.43.

About AXIS Capital

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.