Axis Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Thursday, February 22nd, Zacks reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.39 per share by the insurance provider on Monday, April 16th. This represents a $1.56 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, March 28th.
Axis Capital has increased its dividend payment by an average of 12.1% per year over the last three years and has increased its dividend every year for the last 11 years. Axis Capital has a payout ratio of -68.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Axis Capital to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 32.5%.
Axis Capital (NYSE AXS) remained flat at $$56.70 during midday trading on Friday. 208,341 shares of the stock were exchanged, compared to its average volume of 1,022,330. Axis Capital has a 52 week low of $47.43 and a 52 week high of $68.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $4,802.30, a P/E ratio of -11.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.49.
Axis Capital (NYSE:AXS) last posted its earnings results on Wednesday, February 7th. The insurance provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). The company had revenue of $729.42 million for the quarter, compared to the consensus estimate of $549.41 million. Axis Capital had a negative net margin of 8.04% and a negative return on equity of 4.48%. Axis Capital’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. equities analysts anticipate that Axis Capital will post 4.32 earnings per share for the current year.
A number of equities analysts have recently commented on the company. ValuEngine upgraded Axis Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 17th. Zacks Investment Research upgraded Axis Capital from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. Wells Fargo reiterated a “hold” rating and issued a $52.00 price objective on shares of Axis Capital in a research note on Wednesday, February 7th. Deutsche Bank dropped their price objective on Axis Capital from $55.00 to $54.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Finally, UBS upgraded Axis Capital from a “sell” rating to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $60.22.
In other news, Director Charles A. Davis purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $49.90 per share, for a total transaction of $1,247,500.00. Following the completion of the purchase, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $1,699,743.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.89% of the company’s stock.
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About Axis Capital
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance.
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