Axis Capital (NYSE:AXS) Releases Earnings Results, Beats Expectations By $0.41 EPS

Key Points

• Axis Capital reported a Q1 earnings per share (EPS) of $3.29, exceeding analysts' estimates of $2.92 by $0.37, alongside a return on equity of 19.01%.
• The company declared a quarterly dividend of $0.44 per share, marking an annualized dividend of $1.76 and a yield of 1.81%.
• Analysts have a consensus rating of "Moderate Buy" for Axis Capital, with target prices ranging between $108.25 and $121.00.

Axis Capital (NYSE:AXS - Get Free Report) released its quarterly earnings data on Tuesday. The insurance provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.41, Zacks reports. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.68 billion. Axis Capital had a return on equity of 19.01% and a net margin of 14.54%. The company's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $2.93 EPS.

Axis Capital Stock Performance

Shares of AXS opened at $97.08 on Wednesday. The company has a market capitalization of $7.64 billion, a PE ratio of 9.63, a PEG ratio of 1.16 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.68 and a current ratio of 0.68. The company's 50 day moving average price is $100.58 and its 200 day moving average price is $96.47. Axis Capital has a 52 week low of $70.16 and a 52 week high of $107.19.

Axis Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, June 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Monday, June 30th. Axis Capital's dividend payout ratio is currently 17.46%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AXS shares. Cowen reiterated a "buy" rating on shares of Axis Capital in a research report on Wednesday, May 14th. UBS Group raised their target price on shares of Axis Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Keefe, Bruyette & Woods lifted their target price on shares of Axis Capital from $118.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Jefferies Financial Group upped their price target on shares of Axis Capital from $116.00 to $119.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $108.25.

Institutional Trading of Axis Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth grew its position in Axis Capital by 42.1% in the first quarter. Focus Partners Wealth now owns 10,417 shares of the insurance provider's stock worth $1,044,000 after acquiring an additional 3,085 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Axis Capital by 86.2% during the 1st quarter. Jane Street Group LLC now owns 47,277 shares of the insurance provider's stock worth $4,739,000 after acquiring an additional 21,892 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Axis Capital by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 205,553 shares of the insurance provider's stock valued at $20,605,000 after acquiring an additional 12,680 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Axis Capital by 12.4% in the 1st quarter. Royal Bank of Canada now owns 63,457 shares of the insurance provider's stock valued at $6,361,000 after acquiring an additional 7,023 shares in the last quarter. 93.44% of the stock is currently owned by hedge funds and other 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.