Q3 2024 Earnings Estimate for AXIS Capital Holdings Limited Issued By Zacks Research (NYSE:AXS)

AXIS Capital Holdings Limited (NYSE:AXS - Free Report) - Analysts at Zacks Research upped their Q3 2024 earnings per share estimates for AXIS Capital in a report released on Monday, August 12th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings of $2.27 per share for the quarter, up from their prior estimate of $2.21. The consensus estimate for AXIS Capital's current full-year earnings is $10.35 per share. Zacks Research also issued estimates for AXIS Capital's FY2024 earnings at $10.51 EPS, Q1 2025 earnings at $2.92 EPS, Q3 2025 earnings at $1.97 EPS and FY2025 earnings at $11.26 EPS.

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

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of AXIS Capital from $86.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. UBS Group upped their price objective on shares of AXIS Capital from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 9th. Bank of America increased their price objective on shares of AXIS Capital from $74.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, July 11th. StockNews.com raised AXIS Capital from a "hold" rating to a "buy" rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company raised their price target on AXIS Capital from $63.00 to $74.00 and gave the stock an "underweight" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $76.29.

AXIS Capital Trading Up 1.4 %

Shares of AXIS Capital stock traded up $1.06 during trading hours on Thursday, hitting $74.87. The company's stock had a trading volume of 463,543 shares, compared to its average volume of 597,675. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.62 and a current ratio of 0.62. AXIS Capital has a twelve month low of $52.90 and a twelve month high of $78.74. The firm has a fifty day moving average of $71.59 and a 200-day moving average of $66.86.

Insider Buying and Selling at AXIS Capital

In related news, Director Michael Millegan bought 1,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the acquisition, the director now owns 9,016 shares in the company, valued at approximately $644,553.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Stanley A. Galanski purchased 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $71.43 per share, for a total transaction of $142,860.00. Following the completion of the purchase, the director now directly owns 11,763 shares of the company's stock, valued at $840,231.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Millegan acquired 1,400 shares of the company's stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $71.49 per share, for a total transaction of $100,086.00. Following the completion of the transaction, the director now owns 9,016 shares in the company, valued at approximately $644,553.84. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AXIS Capital

Several institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in AXIS Capital by 55.6% in the second quarter. Versant Capital Management Inc now owns 462 shares of the insurance provider's stock valued at $33,000 after buying an additional 165 shares in the last quarter. GAMMA Investing LLC raised its position in shares of AXIS Capital by 80.4% during the 2nd quarter. GAMMA Investing LLC now owns 507 shares of the insurance provider's stock worth $36,000 after acquiring an additional 226 shares in the last quarter. Covestor Ltd lifted its stake in AXIS Capital by 45.9% during the first quarter. Covestor Ltd now owns 588 shares of the insurance provider's stock worth $38,000 after purchasing an additional 185 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 148 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in AXIS Capital in the fourth quarter valued at approximately $55,000. 93.44% of the stock is owned by hedge funds and other institutional investors.

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.