Zacks Research Analysts Lift Earnings Estimates for AXIS Capital Holdings Limited (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXSFree Report) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share estimates for AXIS Capital in a research report issued on Monday, June 10th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $2.59 for the quarter, up from their previous forecast of $2.58. The consensus estimate for AXIS Capital’s current full-year earnings is $10.10 per share. Zacks Research also issued estimates for AXIS Capital’s Q4 2024 earnings at $2.59 EPS, FY2024 earnings at $10.10 EPS, Q2 2025 earnings at $3.41 EPS and FY2025 earnings at $10.84 EPS.

AXIS Capital (NYSE:AXSGet Free Report) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.40 by $0.17. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. AXIS Capital’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $2.33 earnings per share.

Several other research analysts have also recently commented on AXS. Keefe, Bruyette & Woods raised their target price on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their target price on shares of AXIS Capital from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.33.

View Our Latest Report on AXS

AXIS Capital Stock Down 0.8 %

Shares of AXS stock opened at $69.05 on Wednesday. The stock has a market cap of $5.85 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. AXIS Capital has a one year low of $52.02 and a one year high of $74.05. The stock has a fifty day moving average price of $67.53 and a 200 day moving average price of $61.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.62 and a quick ratio of 0.62.

AXIS Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be paid a $0.44 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.76 annualized dividend and a dividend yield of 2.55%. AXIS Capital’s dividend payout ratio is presently 26.91%.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Stanley A. Galanski purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $71.43 per share, with a total value of $142,860.00. Following the completion of the acquisition, the director now directly owns 11,763 shares of the company’s stock, valued at approximately $840,231.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AXIS Capital news, Director Stanley A. Galanski purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $71.43 per share, with a total value of $142,860.00. Following the completion of the acquisition, the director now directly owns 11,763 shares of the company’s stock, valued at approximately $840,231.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Marston Becker purchased 3,025 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $66.58 per share, with a total value of $201,404.50. Following the completion of the acquisition, the director now directly owns 21,821 shares of the company’s stock, valued at $1,452,842.18. The disclosure for this purchase can be found here. Insiders acquired 6,425 shares of company stock valued at $444,351 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Trading of AXIS Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in AXIS Capital by 45.9% during the 1st quarter. Covestor Ltd now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 185 shares during the last quarter. Steph & Co. grew its position in shares of AXIS Capital by 2.3% during the 4th quarter. Steph & Co. now owns 10,028 shares of the insurance provider’s stock worth $555,000 after buying an additional 225 shares during the period. Parkside Financial Bank & Trust grew its position in shares of AXIS Capital by 14.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider’s stock worth $101,000 after buying an additional 237 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of AXIS Capital by 1.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,830 shares of the insurance provider’s stock worth $821,000 after buying an additional 241 shares during the period. Finally, Raymond James Trust N.A. grew its position in shares of AXIS Capital by 2.9% during the 4th quarter. Raymond James Trust N.A. now owns 8,688 shares of the insurance provider’s stock worth $481,000 after buying an additional 246 shares during the period. 93.44% of the stock is owned by institutional investors.

About AXIS Capital

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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.

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Earnings History and Estimates for AXIS Capital (NYSE:AXS)

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