Analysts Offer Predictions for AXIS Capital Holdings Limited’s Q3 2024 Earnings (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share estimates for AXIS Capital in a research note issued on Monday, October 7th. Zacks Research analyst T. De now expects that the insurance provider will post earnings of $2.33 per share for the quarter, up from their prior estimate of $2.31. The consensus estimate for AXIS Capital’s current full-year earnings is $10.71 per share. Zacks Research also issued estimates for AXIS Capital’s FY2024 earnings at $10.71 EPS, Q1 2025 earnings at $3.00 EPS, Q3 2026 earnings at $2.59 EPS and FY2026 earnings at $13.32 EPS.

AXS has been the topic of several other research reports. Bank of America boosted their price target on AXIS Capital from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods increased their price target on shares of AXIS Capital from $86.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. UBS Group lifted their price objective on shares of AXIS Capital from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. TD Cowen began coverage on shares of AXIS Capital in a report on Friday, October 4th. They set a “buy” rating and a $118.00 target price for the company. Finally, Roth Mkm upped their price target on shares of AXIS Capital from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AXIS Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

AXIS Capital Price Performance

Shares of AXS opened at $80.13 on Wednesday. The firm has a market capitalization of $6.78 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.62 and a quick ratio of 0.62. The company’s fifty day moving average price is $77.03 and its 200-day moving average price is $71.54. AXIS Capital has a 1-year low of $52.90 and a 1-year high of $82.33.

AXIS Capital (NYSE:AXS) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.41. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.49 billion. AXIS Capital had a net margin of 11.28% and a return on equity of 19.70%. AXIS Capital’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 EPS.

AXIS Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, September 30th. AXIS Capital’s payout ratio is 26.91%.

Institutional Investors Weigh In On AXIS Capital

A number of institutional investors have recently added to or reduced their stakes in AXS. CWM LLC lifted its holdings in AXIS Capital by 92.1% during the third quarter. CWM LLC now owns 21,403 shares of the insurance provider’s stock valued at $1,704,000 after purchasing an additional 10,261 shares in the last quarter. GAMMA Investing LLC increased its stake in AXIS Capital by 158.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,308 shares of the insurance provider’s stock worth $104,000 after buying an additional 801 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of AXIS Capital by 32.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 148 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of AXIS Capital in the second quarter valued at approximately $1,653,000. Finally, Truist Financial Corp boosted its stake in shares of AXIS Capital by 19.9% in the second quarter. Truist Financial Corp now owns 9,773 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 1,620 shares during the last quarter. Institutional investors and hedge funds 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.