Back to top

Image: Shutterstock

AXS Outperforms Industry, Trades at a Discount: How to Play the Stock

Read MoreHide Full Article

Key Takeaways

  • AXS focuses on growth areas like wholesale insurance, lower middle markets, and specialty reinsurance lines.
  • AXS aims to reduce its general and administrative expense ratio to below 11% by 2026.
  • AXS repositioned its business for specialty risk leadership, focusing on underwriting profitability.

Shares of AXIS Capital Holdings Limited (AXS - Free Report) have gained 48% in the past year, outperforming its industry, the Finance sector and the Zacks S&P 500 composite’s growth of 19%, 18.4% and 9.4%, respectively. 

The insurer has a market capitalization of $8.13 billion. The average volume of shares traded in the last three months was 0.7 million.

AXS vs Industry, Sector & S&P 500 in 1 Year

Zacks Investment Research
Image Source: Zacks Investment Research

The insurer has a solid track record of beating earnings estimates in each of the last four quarters, the average being 13.89%.

Attractive Valuation of AXS

AXIS Capital’s shares are trading at a discount compared to the industry. Its forward price-to-book value of 1.51X is lower than the industry average of 1.56X, the Finance sector’s 4.11X and the Zacks S&P 500 Composite’s 8.04X. Also, it has a Value Score of A.

AXS is also cheaper compared with The Travelers Companies, Inc. (TRV - Free Report) , Arch Capital Group Ltd. (ACGL - Free Report) and American Financial Group, Inc. (AFG - Free Report) .

Zacks Investment Research
Image Source: Zacks Investment Research

AXS Trading Above 50-Day and 200-Day Moving Averages

Shares of AXIS Capital closed at $103.42 on Monday, near its 52-week high of $107.19. This proximity underscores investor confidence. It has the ingredients for further price appreciation. The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $98.92 and $90.34, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.

AXS Price Movement vs. 50- Day, 200-Day Moving Average

Zacks Investment Research
Image Source: Zacks Investment Research

AXS’ Encouraging Growth Projection

The Zacks Consensus Estimate for AXIS Capital’s 2025 earnings per share indicates a year-over-year increase of 3.4%. The consensus estimate for revenues is pegged at $6.58 billion, implying a year-over-year improvement of 7.8%. The consensus estimate for 2026 earnings per share and revenues indicates an increase of 8% and 7.8%, respectively, from the corresponding 2025 estimates.

Earnings have grown 67.1% in the past five years, better than the industry average of 20.8%. The expected long-term earnings growth rate is 7.2%, outperforming the industry average of 6.8%.

Optimist Analyst Sentiment on AXS

Each of the four analysts covering the stock has raised estimates for 2025, and one analyst has raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 2.4% and 0.5%, respectively, in the past 60 days.

Zacks Investment Research
Image Source: Zacks Investment Research

Average Target Price for AXS Suggests Upside

Based on short-term price targets offered by eight analysts, the Zacks average price target is $112.38 per share. The average suggests a potential 9.1% upside from the last closing price.

Zacks Investment Research
Image Source: Zacks Investment Research

AXIS Capital’s Higher Return on Capital

Return on equity in the trailing 12 months was 19%, better than the industry average of 7.8%. This highlights the company’s efficiency in utilizing shareholders’ funds.

Factors Acting in Favor of AXS

AXIS Capital aims to be a leading specialty underwriter and thus focuses on growth areas, including wholesale insurance and lower middle markets. Lowering risk exposure while concentrating on accident and health, excess and supply property, casualty, credit and surety, and specialty reinsurance lines bodes well for growth. 

The Insurance segment is poised to benefit from a diversified portfolio of global specialty businesses, leadership positions and growth opportunities across major business lines.

The Reinsurance business should benefit from strong cycle management, focusing on improving the business mix. 

AXIS Capital stays focused on expanding digital capabilities to create new business growth in desirable smaller accounts. Simplifying operating structure, delivering efficiencies and capitalizing on productivity gains should help it achieve a general and administrative ratio of less than 11% by 2026.

Strategic initiatives have been driving improvement in its operating earnings over the past few years.

Axis Capital’s Impressive Dividend History

Axis Capital's dividend track record is impressive. It hiked its dividend for 18 straight years and currently yields 1.7%, way above the industry average of 0.2%. The insurer boasts one of the highest dividend yields among its peers.

Final Take on AXS

This leading specialty insurer and global reinsurer, which aims to lead in specialty risks, has been repositioning its portfolio and strengthening its book of business. Focusing on prudently deploying resources while enhancing efficiencies, improving its portfolio mix and underwriting profitability, poises Axis Capital for growth. 

Axis Capital has a VGM Score of A, which indicates a potential upside and instills confidence. VGM Score helps identify stocks with the most attractive value, best growth and the most promising momentum. 

Higher return on capital, favorable growth estimates, as well as attractive valuations, should continue to benefit Axis Capital over the long term. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Published in