AXIS Capital Holdings Limited (NYSE:AXS) Declares Quarterly Dividend of $0.44

AXIS Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Wednesday, September 18th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.44 per share by the insurance provider on Friday, October 18th. This represents a $1.76 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, September 30th.

AXIS Capital has raised its dividend payment by an average of 2.2% per year over the last three years and has raised its dividend every year for the last 23 years. AXIS Capital has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AXIS Capital to earn $11.64 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 15.1%.

AXIS Capital Stock Performance

Shares of AXIS Capital stock opened at $79.28 on Friday. The business has a 50-day moving average price of $76.01 and a two-hundred day moving average price of $70.66. AXIS Capital has a 1-year low of $52.90 and a 1-year high of $80.50. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.71 billion, a P/E ratio of 12.12, a PEG ratio of 0.26 and a beta of 0.89.

AXIS Capital (NYSE:AXS) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.41. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a return on equity of 19.70% and a net margin of 11.28%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. As a group, analysts anticipate that AXIS Capital will post 10.71 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised their target price on AXIS Capital from $63.00 to $74.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Roth Mkm upped their price target on AXIS Capital from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America raised their price objective on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped their target price on AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

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.