AXIS Capital Holdings Limited (AXS) To Go Ex-Dividend on December 31st

AXIS Capital Holdings Limited (NYSE:AXS) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.44 per share by the insurance provider on Wednesday, January 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, December 31st.

AXIS Capital has increased its dividend by an average of 2.2% per year over the last three years and has raised its dividend annually for the last 23 consecutive years. AXIS Capital has a dividend payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AXIS Capital to earn $11.66 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 15.1%.

AXIS Capital Stock Performance

AXIS Capital stock opened at $89.29 on Friday. The firm’s 50 day simple moving average is $87.13 and its 200 day simple moving average is $79.34. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. AXIS Capital has a 1-year low of $53.88 and a 1-year high of $94.89. The firm has a market capitalization of $7.47 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.31 and a beta of 0.94.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.16. AXIS Capital had a return on equity of 19.24% and a net margin of 10.82%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the business posted $2.34 earnings per share. As a group, analysts expect that AXIS Capital will post 10.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of AXIS Capital from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods raised their price objective on shares of AXIS Capital from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their target price on shares of AXIS Capital from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America lifted their price target on AXIS Capital from $81.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen increased their price objective on AXIS Capital from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.71.

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.