AXIS Capital Holdings Limited (NYSE:AXS – Get Rating) announced a quarterly dividend on Wednesday, September 21st, Wall Street Journal reports. Stockholders of record on Monday, October 3rd will be paid a dividend of 0.43 per share by the insurance provider on Tuesday, October 18th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, September 30th.
AXIS Capital has increased its dividend by an average of 2.5% per year over the last three years and has raised its dividend every year for the last 18 years. AXIS Capital has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AXIS Capital to earn $7.03 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 24.5%.
AXIS Capital Stock Down 0.7 %
Shares of NYSE AXS opened at $51.83 on Friday. AXIS Capital has a 1 year low of $44.49 and a 1 year high of $61.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50 day simple moving average of $52.97 and a 200-day simple moving average of $55.28. The company has a market capitalization of $4.39 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.63 and a beta of 0.72.
Analyst Ratings Changes
AXS has been the subject of a number of research reports. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research report on Sunday, August 14th. Jefferies Financial Group lowered their target price on shares of AXIS Capital from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Morgan Stanley lowered their target price on shares of AXIS Capital from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th. Finally, TheStreet lowered shares of AXIS Capital from a “b” rating to a “c+” rating in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.
Hedge Funds Weigh In On AXIS Capital
Several institutional investors and hedge funds have recently modified their holdings of AXS. US Bancorp DE lifted its stake in shares of AXIS Capital by 447.2% during the first quarter. US Bancorp DE now owns 487 shares of the insurance provider’s stock valued at $30,000 after buying an additional 398 shares during the period. Lazard Asset Management LLC acquired a new position in AXIS Capital during the first quarter worth approximately $33,000. Bank of Montreal Can acquired a new position in AXIS Capital during the first quarter worth approximately $201,000. Quantamental Technologies LLC acquired a new position in AXIS Capital during the first quarter worth approximately $290,000. Finally, Cetera Advisor Networks LLC acquired a new position in AXIS Capital during the first quarter worth approximately $366,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.
AXIS Capital Company Profile
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products.
- Get a free copy of the StockNews.com research report on AXIS Capital (AXS)
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