Axis Capital Holdings Limited (NYSE: AXS) has seen its stock soar to an all-time high, with shares reaching $98.12. The company, valued at $7.9 billion, continues to enjoy a “GREAT” financial health rating, according to InvestingPro. This surge highlights the company’s impressive growth, with its stock rising by 53.51% over the past year.
The stock is currently trading at a price-to-earnings (P/E) ratio of 7.8 and has attracted strong investor support, particularly through its share buyback program. Analysts have taken notice of this momentum, with stock price targets as high as $127. InvestingPro subscribers can access additional insights into the company’s performance, including its 23-year dividend history and detailed valuation metrics.
In other developments, Axis Capital reported stronger-than-expected earnings for the fourth quarter of 2024. Earnings per share (EPS) reached $2.97, surpassing analysts’ expectations of $2.57. However, revenue fell short, totaling $1.47 billion compared to the anticipated $1.52 billion. The company also introduced a new $400 million share repurchase program, replacing the previous $300 million initiative, and declared a quarterly dividend of $0.44 per share.
Additionally, Axis Capital entered a stock repurchase agreement to buy back approximately $200 million in shares from T-VIII PubOpps LP under its existing program.
Keefe, Bruyette & Woods analyst Meyer Shields raised Axis Capital’s price target to $118, maintaining an “Outperform” rating. The increase was based on the company’s year-end reserve figures and the expectation of reserve releases in the coming years. The analyst also highlighted the company’s significant share repurchases and forecasts $46 million in reserve releases for 2025 and $48 million for 2026, reflecting Axis Capital’s strong capital management and commitment to enhancing shareholder value.
Related Topics:
