Q2 2024 EPS Estimates for AXIS Capital Holdings Limited Decreased by Roth Capital (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS - Free Report) - Research analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for AXIS Capital in a research report issued to clients and investors on Thursday, May 2nd. Roth Capital analyst H. Fong now anticipates that the insurance provider will earn $2.50 per share for the quarter, down from their prior forecast of $2.53. The consensus estimate for AXIS Capital's current full-year earnings is $10.17 per share. Roth Capital also issued estimates for AXIS Capital's Q3 2024 earnings at $2.43 EPS, Q4 2024 earnings at $2.76 EPS, Q1 2025 earnings at $2.80 EPS, Q2 2025 earnings at $2.77 EPS and Q4 2025 earnings at $3.15 EPS.

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

Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Company cut their target price on AXIS Capital from $59.00 to $57.00 and set an "underweight" rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on AXIS Capital from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. UBS Group raised their price target on AXIS Capital from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Finally, StockNews.com upgraded AXIS Capital from a "hold" rating to a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $67.33.

AXIS Capital Trading Up 2.0 %

AXS stock traded up $1.29 during midday trading on Monday, hitting $66.68. 683,230 shares of the company's stock were exchanged, compared to its average volume of 640,677. The business has a 50-day simple moving average of $62.84 and a two-hundred day simple moving average of $58.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $5.65 billion, a PE ratio of 10.00, a P/E/G ratio of 1.29 and a beta of 0.80. AXIS Capital has a 1-year low of $51.61 and a 1-year high of $66.84.

AXIS Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, March 4th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.76 dividend on an annualized basis and a yield of 2.64%. AXIS Capital's dividend payout ratio (DPR) is presently 26.91%.

Insider Activity at AXIS Capital

In other AXIS Capital news, Director Stanley A. Galanski purchased 7,000 shares of the business's stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $58.45 per share, for a total transaction of $409,150.00. Following the completion of the purchase, the director now directly owns 9,763 shares in the company, valued at $570,647.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of AXIS Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steph & Co. raised its stake in AXIS Capital by 2.3% in the fourth quarter. Steph & Co. now owns 10,028 shares of the insurance provider's stock valued at $555,000 after buying an additional 225 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of AXIS Capital by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,833 shares of the insurance provider's stock valued at $101,000 after purchasing an additional 237 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of AXIS Capital by 1.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,830 shares of the insurance provider's stock valued at $821,000 after purchasing an additional 241 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of AXIS Capital by 2.9% in the 4th quarter. Raymond James Trust N.A. now owns 8,688 shares of the insurance provider's stock valued at $481,000 after purchasing an additional 246 shares during the last quarter. Finally, Intrust Bank NA lifted its holdings in shares of AXIS Capital by 5.2% in the 4th quarter. Intrust Bank NA now owns 6,000 shares of the insurance provider's stock valued at $332,000 after purchasing an additional 294 shares during the last quarter. 93.44% of the stock is currently owned by institutional investors and hedge funds.

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.