Axis Capital Holdings Limited (AXS) to Issue Quarterly Dividend of $0.44 on July 15th

Axis Capital Holdings Limited (NYSE:AXS) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.44 per share by the insurance provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, June 30th.

Axis Capital has increased its dividend payment by an average of 0.0%per year over the last three years. Axis Capital has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Axis Capital to earn $14.31 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 12.3%.

Axis Capital Stock Performance

NYSE AXS opened at $97.64 on Friday. The company has a 50-day simple moving average of $100.57 and a two-hundred day simple moving average of $101.70. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.25. Axis Capital has a 12-month low of $88.07 and a 12-month high of $110.34. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 2.98 and a beta of 0.54.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Axis Capital had a net margin of 16.00% and a return on equity of 18.12%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $3.17 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Axis Capital will post 13.2 EPS for the current year.

Insider Transactions at Axis Capital

In related news, Director Henry B. Smith sold 2,542 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $98.69, for a total value of $250,869.98. Following the completion of the transaction, the director directly owned 46,347 shares of the company’s stock, valued at $4,573,985.43. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axis Capital

Institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new position in Axis Capital in the third quarter worth about $29,000. Activest Wealth Management bought a new position in Axis Capital in the fourth quarter worth about $30,000. Assetmark Inc. raised its stake in Axis Capital by 80.8% in the first quarter. Assetmark Inc. now owns 396 shares of the insurance provider’s stock worth $40,000 after buying an additional 177 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Axis Capital in the third quarter worth about $43,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Axis Capital in the first quarter worth about $43,000. 93.44% of the stock is owned by institutional investors.

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.