Axis Capital Holdings Limited (NYSE:AXS) Declares $0.44 Quarterly Dividend

Key Points

• Axis Capital declared a quarterly dividend of $0.44 per share, payable October 15 to shareholders of record on September 30. The dividend is equivalent to $1.76 annually and yields approximately 1.8%.
• The dividend appears well covered, with a current payout ratio of 14.1% and an expected future payout ratio of 13.1%, based on projected earnings of $13.45 per share next year.
• Axis Capital’s latest quarterly earnings of $2.84 per share missed analyst expectations of $3.25, although revenue rose 7.4% year over year to $1.75 billion. Institutional investors own 93.44% of the company’s stock.

Axis Capital Holdings Limited (NYSE:AXS - Get Free Report) declared a quarterly dividend on Wednesday, September 16th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.44 per share by the insurance provider on Thursday, October 15th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, September 30th.

Axis Capital has raised its dividend payment by an average of 0.0%per year over the last three years. Axis Capital has a dividend payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Axis Capital to earn $13.45 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 13.1%.

Axis Capital Stock Performance

Axis Capital stock opened at $99.64 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.64 and a quick ratio of 0.64. Axis Capital has a 12 month low of $88.07 and a 12 month high of $119.99. The company has a fifty day moving average price of $104.71 and a two-hundred day moving average price of $102.63. The company has a market cap of $7.27 billion, a PE ratio of 7.08, a P/E/G ratio of 4.39 and a beta of 0.49.

Axis Capital (NYSE:AXS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $2.84 earnings per share for the quarter, missing analysts' consensus estimates of $3.25 by ($0.41). Axis Capital had a return on equity of 17.00% and a net margin of 16.23%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $3.29 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts expect that Axis Capital will post 12.38 earnings per share for the current year.

Institutional Investors Weigh In On Axis Capital

Several institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its position in Axis Capital by 0.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,646 shares of the insurance provider's stock valued at $3,293,000 after buying an additional 159 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Axis Capital during the 2nd quarter worth about $44,000. WINTON GROUP Ltd acquired a new stake in shares of Axis Capital in the 2nd quarter worth approximately $387,000. Integrated Wealth Concepts LLC lifted its stake in shares of Axis Capital by 2.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,190 shares of the insurance provider's stock worth $4,963,000 after acquiring an additional 1,133 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Axis Capital by 6.8% in the second quarter. NewEdge Advisors LLC now owns 4,322 shares of the insurance provider's stock valued at $464,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company's stock.

Axis Capital Company Profile

AXIS Capital Holdings Limited NYSE: AXS is a Bermuda-based specialty insurance and reinsurance company. Through its subsidiaries, the company provides coverage and risk-management solutions for businesses, institutions and other insurance companies.

Its insurance operations offer products across property, casualty, professional liability, cyber, marine, aviation, accident and health, and other specialty lines. Its reinsurance business assumes risks from primary insurers through property, casualty and specialty reinsurance arrangements.

Founded in 2001, AXIS serves clients and distribution partners in major insurance markets across North America, Bermuda, Europe, Asia-Pacific and other international regions.

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