Axis Capital (NYSE:AXS) Posts Earnings Results, Beats Estimates By $0.09 EPS

Axis Capital (NYSE:AXS) announced its quarterly earnings results on Wednesday. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09, FiscalAI reports. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $3.17 EPS. Axis Capital’s quarterly revenue was up 8.0% on a year-over-year basis.

Axis Capital Stock Performance

Shares of Axis Capital stock traded up $3.48 on Thursday, reaching $101.44. 151,294 shares of the company traded hands, compared to its average volume of 610,461. Axis Capital has a 52 week low of $88.07 and a 52 week high of $110.34. The company has a 50 day moving average of $101.55 and a 200 day moving average of $101.32. The firm has a market capitalization of $7.52 billion, a PE ratio of 8.19, a PEG ratio of 2.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.65.

Axis Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 31st. Axis Capital’s dividend payout ratio is currently 14.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AXS. Virtu Financial LLC purchased a new stake in shares of Axis Capital during the 4th quarter valued at approximately $224,000. Corient Private Wealth LLC lifted its stake in shares of Axis Capital by 43.4% during the 4th quarter. Corient Private Wealth LLC now owns 86,024 shares of the insurance provider’s stock valued at $9,212,000 after buying an additional 26,018 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Axis Capital by 82.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 40,330 shares of the insurance provider’s stock valued at $4,319,000 after buying an additional 18,234 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Axis Capital by 36.1% during the 4th quarter. NewEdge Advisors LLC now owns 4,740 shares of the insurance provider’s stock valued at $508,000 after buying an additional 1,257 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Axis Capital during the 4th quarter valued at approximately $171,000. 93.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $120.00 target price on shares of Axis Capital in a research report on Thursday, January 29th. Royal Bank Of Canada boosted their target price on shares of Axis Capital from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Mizuho decreased their target price on shares of Axis Capital from $141.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. UBS Group reissued a “buy” rating on shares of Axis Capital in a research report on Monday, February 2nd. Finally, Weiss Ratings downgraded shares of Axis Capital from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.80.

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.