AXIS Capital Holdings Limited (NYSE:AXS) to Post Q2 2024 Earnings of $2.58 Per Share, Zacks Research Forecasts

AXIS Capital Holdings Limited (NYSE:AXS) – Analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for AXIS Capital in a report released on Wednesday, May 15th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $2.58 for the quarter, down from their prior estimate of $2.77. The consensus estimate for AXIS Capital’s current full-year earnings is $10.10 per share. Zacks Research also issued estimates for AXIS Capital’s Q3 2024 earnings at $2.67 EPS, Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $10.04 EPS, Q1 2025 earnings at $2.93 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $2.63 EPS, FY2025 earnings at $10.81 EPS, Q1 2026 earnings at $3.09 EPS and FY2026 earnings at $12.54 EPS.

AXIS Capital (NYSE:AXS) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.17. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a return on equity of 19.11% and a net margin of 10.34%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their target price on AXIS Capital from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. UBS Group upped their price objective on shares of AXIS Capital from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com raised shares of AXIS Capital from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their target price on shares of AXIS Capital from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.33.

AXIS Capital Stock Performance

NYSE AXS opened at $71.45 on Friday. AXIS Capital has a 1 year low of $51.61 and a 1 year high of $71.69. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.38 and a beta of 0.80. 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 firm’s 50 day simple moving average is $64.53 and its 200 day simple moving average is $59.65.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.44 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.46%. AXIS Capital’s dividend payout ratio (DPR) is presently 26.91%.

Insider Activity

In other AXIS Capital news, Director W Marston Becker purchased 3,025 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $66.58 per share, for a total transaction of $201,404.50. Following the purchase, the director now owns 21,821 shares of the company’s stock, valued at approximately $1,452,842.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of AXIS Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in AXIS Capital during the fourth quarter worth about $52,845,000. AQR Capital Management LLC increased its stake in shares of AXIS Capital by 89.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,230,822 shares of the insurance provider’s stock worth $69,381,000 after purchasing an additional 581,409 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of AXIS Capital by 30.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,321,271 shares of the insurance provider’s stock worth $150,928,000 after purchasing an additional 545,546 shares during the period. Los Angeles Capital Management LLC lifted its stake in AXIS Capital by 185.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 488,556 shares of the insurance provider’s stock valued at $27,051,000 after purchasing an additional 317,169 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in AXIS Capital during the first quarter valued at $17,065,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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.