Should You Retain Axis Capital (AXS) Stock in Your Portfolio?
Increases in lines of business, new business growth, continued strong retentions, accelerated digitalization and prudent capital deployment continue to drive AXIS Capital (AXS).
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Image by Shutterstock Zacks Equity Research, December 19, 2022 WRB AXS NSL ROOT Trades starting at $1 In the last 60 days, the Zacks Consensus Estimates for 2022-2023 have moved 0.1% north and 10% respectively. Investors should feel confident in the stock. The stock currently has a Zacks rank #3 (Hold). This is due to its efficiency in utilizing shareholders' funds. Business Tailwinds This is due to its efficiency in using shareholders' funds. The property and casualty insurance continues to see strong double-digit price increases in almost every line. AXIS Capital anticipates that disciplined pricing will continue in insurance and reinsurance in 2023. Many lines are still experiencing strong double-digit increases. AXS Capital has invested in technology to improve data usage, assist higher-value activities and processes, and support new lines and business. The solid earnings and a strong dividend hike have allowed it to increase its dividends over the past 18 years at a CAGR of 5% for nine years (2015-2022). AXS has also authorized a $65,000,000 share buyback program for 2022. This is due to solid earnings. W.R. Berkley and Root have Zacks Rank #2 respectively. Kinsale Capital has a Zacks Rank 1 (Strong Buy). The complete Zacks #1 Rank stock list can be viewed here. Kinsale Capital's earnings exceeded estimates in each of the last four quarters with an average of 15.16%. Kinsale Capital's earnings have increased 30% over the past year. The Zacks Consensus Estimates for KNSL 2022 and 2023 earnings suggests a respective increase of 27.5% & 21.9%, respectively. The average beat was 25.63% in earnings estimates. The insurer's earnings have increased 37.2% in the past year. In fact, W.R. Berkley's 2022 earnings and 2023 earnings moved 5.1% north and 3.4% north respectively over the past 60 days. Root delivered an average four-quarter earnings surprise of 22.4%. ROOT lost 90.5% in the past year. The Zacks Consensus Estimate of ROOT's 2022 earnings and 2023 earnings shows a respective increase of 44.7% & 23.9% year-over year. insurance