Axis Capital (NYSE:AXS) Issues Earnings Results

Key Points

• Axis Capital reported Q EPS of $3.42, beating estimates by $0.09 while revenue missed at $1.64B versus a $1.73B consensus; revenue was up 8% year‑over‑year and the company posted a 15.37% net margin and 18.72% ROE.
• The firm paid a quarterly dividend of $0.44 (annualized $1.76), yielding 1.8% with a low payout ratio of about 14%.
• Analysts hold a consensus "Moderate Buy" with an average price target of $122.80, while shares trade near $97.93 and the stock carries a P/E of 7.9, suggesting potential upside versus the consensus target.

Axis Capital (NYSE:AXS - Get Free Report) issued its earnings results on Wednesday. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.33 by $0.09, FiscalAI reports. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.73 billion. Axis Capital had a net margin of 15.37% and a return on equity of 18.72%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 EPS.

Axis Capital Price Performance

NYSE AXS opened at $97.93 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.65. The firm's 50 day moving average price is $101.55 and its 200-day moving average price is $101.32. Axis Capital has a 52-week low of $88.07 and a 52-week high of $110.34. The company has a market cap of $7.26 billion, a PE ratio of 7.90, a P/E/G ratio of 2.03 and a beta of 0.63.

Axis Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. Axis Capital's dividend payout ratio (DPR) is currently 14.21%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group reiterated a "buy" rating on shares of Axis Capital in a report on Monday, February 2nd. Keefe, Bruyette & Woods dropped their price objective on Axis Capital from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Roth Mkm restated a "buy" rating and set a $120.00 price objective on shares of Axis Capital in a report on Thursday, January 29th. Jefferies Financial Group reaffirmed a "buy" rating and set a $122.00 target price on shares of Axis Capital in a research report on Friday, January 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $110.00 target price on shares of Axis Capital in a report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Axis Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.80.

Hedge Funds Weigh In On Axis Capital

A number of large investors have recently bought and sold shares of AXS. DV Equities LLC bought a new stake in Axis Capital during the 4th quarter valued at $54,000. Johnson Financial Group Inc. bought a new position in shares of Axis Capital in the 3rd quarter worth $78,000. Kestra Advisory Services LLC purchased a new stake in shares of Axis Capital during the 4th quarter worth $84,000. Quadrant Capital Group LLC purchased a new stake in shares of Axis Capital during the 4th quarter worth $101,000. Finally, Empowered Funds LLC purchased a new stake in shares of Axis Capital during the 4th quarter worth $171,000. Institutional investors own 93.44% of the company's stock.

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.