Axis Capital Holdings Limited (AXS) to Issue Quarterly Dividend of $0.44 on July 15th

Axis Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Wednesday, May 13th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.44 per share by the insurance provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, June 30th.

Axis Capital has increased its dividend payment by an average of 0.0%annually over the last three years. Axis Capital has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Axis Capital to earn $14.36 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 12.3%.

Axis Capital Price Performance

AXS opened at $108.92 on Friday. The company has a fifty day moving average price of $99.90 and a two-hundred day moving average price of $102.00. The firm has a market capitalization of $8.03 billion, a PE ratio of 8.12, a P/E/G ratio of 3.32 and a beta of 0.51. Axis Capital has a 52 week low of $88.07 and a 52 week high of $110.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.65.

Axis Capital (NYSE:AXS) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. Axis Capital had a return on equity of 18.12% and a net margin of 16.00%.The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business posted $3.17 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Axis Capital will post 13.25 earnings per share for the current year.

Insider Buying and Selling

In other Axis Capital news, Director Henry B. Smith sold 2,542 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $98.69, for a total transaction of $250,869.98. Following the sale, the director directly owned 46,347 shares in the company, valued at approximately $4,573,985.43. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Axis Capital

Several large investors have recently made changes to their positions in AXS. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Axis Capital in the 3rd quarter valued at about $1,118,000. Massachusetts Financial Services Co. MA boosted its position in shares of Axis Capital by 27.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 439,989 shares of the insurance provider’s stock worth $47,118,000 after buying an additional 95,207 shares during the period. Causeway Capital Management LLC grew its holdings in shares of Axis Capital by 31.8% during the third quarter. Causeway Capital Management LLC now owns 836,861 shares of the insurance provider’s stock worth $80,171,000 after buying an additional 201,880 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Axis Capital by 15.5% during the third quarter. Gotham Asset Management LLC now owns 280,672 shares of the insurance provider’s stock worth $26,888,000 after buying an additional 37,741 shares in the last quarter. Finally, Numerai GP LLC acquired a new stake in Axis Capital in the 3rd quarter valued at approximately $3,371,000. 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.