Axis Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Wednesday, September 27th, Fidelity reports. Investors of record on Monday, October 9th will be given a dividend of 0.38 per share by the insurance provider on Monday, October 16th. This represents a $1.52 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, October 5th. This is an increase from Axis Capital Holdings Limited’s previous quarterly dividend of $0.29.

Axis Capital Holdings Limited has increased its dividend payment by an average of 11.9% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Axis Capital Holdings Limited has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Axis Capital Holdings Limited to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 31.1%.

Shares of Axis Capital Holdings Limited (NYSE:AXS) opened at 57.21 on Wednesday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 12.62 and a beta of 0.59. Axis Capital Holdings Limited has a 12-month low of $52.15 and a 12-month high of $71.06. The firm’s 50-day moving average price is $59.15 and its 200 day moving average price is $63.64.

Axis Capital Holdings Limited (NYSE:AXS) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Axis Capital Holdings Limited had a net margin of 10.81% and a return on equity of 9.17%. The company had revenue of $956.02 million for the quarter, compared to the consensus estimate of $989.95 million. During the same quarter in the prior year, the company earned $0.51 EPS. Axis Capital Holdings Limited’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts predict that Axis Capital Holdings Limited will post $4.02 earnings per share for the current year.

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A number of analysts have recently weighed in on AXS shares. Buckingham Research initiated coverage on shares of Axis Capital Holdings Limited in a research note on Monday, September 11th. They issued a “neutral” rating and a $58.00 price objective on the stock. UBS AG decreased their target price on shares of Axis Capital Holdings Limited from $57.00 to $55.00 and set a “sell” rating for the company in a research report on Monday. ValuEngine downgraded shares of Axis Capital Holdings Limited from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Citigroup Inc. upped their price target on shares of Axis Capital Holdings Limited from $60.00 to $61.00 and gave the company a “sell” rating in a report on Thursday, July 13th. Finally, Wells Fargo & Company reaffirmed a “sell” rating on shares of Axis Capital Holdings Limited in a report on Thursday, July 6th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.30.

About Axis Capital Holdings Limited

AXIS Capital Holdings Limited is a holding company. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe and Singapore. Its business consists of two global underwriting platforms: AXIS Insurance and AXIS Re.

Dividend History for Axis Capital Holdings Limited (NYSE:AXS)

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