AXS stock soars to all-time high, reaching $98.12

In a remarkable display of market confidence, Axis Capital Holdings Limited (NYSE:AXS) stock has soared to an all-time high, with shares reaching a peak of $98.12. The company, currently valued at $7.9 billion, maintains a "GREAT" financial health rating according to InvestingPro analysis. This significant milestone underscores a period of robust growth for the company, which has seen its stock value surge by an impressive 53.51% over the past year. Trading at an attractive P/E ratio of 7.8 and supported by management’s aggressive share buyback program, investors have rallied behind AXS. The stock’s momentum has caught analysts’ attention, with targets reaching as high as $127 per share. InvestingPro subscribers can access 8 additional key insights about AXS, including detailed analysis of its 23-year dividend payment history and comprehensive valuation metrics.

In other recent news, AXIS Capital Holdings Ltd reported stronger-than-expected earnings for the fourth quarter of 2024, with earnings per share (EPS) at $2.97, surpassing analysts’ forecasts of $2.57. Despite the positive earnings, the company’s revenue fell short of expectations, recording $1.47 billion against a forecast of $1.52 billion. AXIS Capital also announced a new $400 million share repurchase program, replacing the previous $300 million program, and declared a quarterly dividend of $0.44 per common share. Additionally, the company has entered a stock repurchase agreement to buy back shares worth approximately $200 million from T-VIII PubOpps LP under its existing share repurchase program.

Keefe, Bruyette & Woods analyst Meyer Shields raised the price target for AXIS Capital to $118, maintaining an Outperform rating, after reviewing the company’s year-end reserve figures and predicting reserve releases in the coming years. The analyst’s confidence was further bolstered by AXIS Capital’s significant share repurchases and anticipated reserve releases of $46 million in 2025 and $48 million in 2026. These recent developments reflect AXIS Capital’s strategic capital management and commitment to shareholder value.

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