AXIS Capital (NYSE:AXS) Releases Earnings Results, Beats Expectations By $0.17 EPS

AXIS Capital (NYSE:AXS - Get Free Report) released its earnings results on Thursday. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.17, Zacks reports. AXIS Capital had a net margin of 10.34% and a return on equity of 19.11%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company posted $2.33 EPS. The business's revenue was up 6.0% on a year-over-year basis.

AXIS Capital Trading Up 0.3 %

AXS stock traded up $0.21 during mid-day trading on Friday, hitting $65.39. 682,791 shares of the company were exchanged, compared to its average volume of 646,238. The business has a fifty day simple moving average of $62.84 and a 200-day simple moving average of $58.73. The firm has a market capitalization of $5.54 billion, a P/E ratio of 10.00, a PEG ratio of 1.28 and a beta of 0.80. AXIS Capital has a 12-month low of $51.61 and a 12-month high of $66.74. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.38.

AXIS Capital Dividend Announcement

The business also recently disclosed 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 was Friday, March 1st. This represents a $1.76 annualized dividend and a yield of 2.69%. AXIS Capital's dividend payout ratio (DPR) is currently 26.91%.

Insider Transactions at AXIS Capital

In related news, Director Stanley A. Galanski bought 7,000 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $58.45 per share, for a total transaction of $409,150.00. Following the acquisition, the director now owns 9,763 shares of the company's stock, valued at $570,647.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

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

AXIS Capital Company Profile

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.