Core Viewpoint - AXIS Capital Holdings Limited (AXS) is highlighted as a strong investment opportunity due to its high Zacks Rank and positive earnings momentum [1] Company Summary - AXIS Capital provides insurance coverage for property, workers compensation, professional liability, casualty, and marine and aviation [1] - The company has a Zacks Rank of 1, indicating strong performance potential [1] - The Zacks Consensus Estimate for AXIS Capital's current year earnings has increased by nearly 6% over the last 60 days [1] Performance Metrics - AXIS Capital's shares have increased by 13.7% over the last three months, outperforming the S&P 500, which advanced by 9.6% during the same period [1] - The company has a Momentum Score of A, reflecting its strong momentum characteristics [1]

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:AXIS Capital Holdings Limited (AXS) : This company which offers insurance covers for property, workers compensation, professional liability, casualty, and marine and aviation has seen the Zacks Consensus Estimate for its current year earnings increasing nearly 6% over the last 60 days.General Motors Company (GM) : This automobile giant has seen the Zacks Consensus Estimate for its current year earnings increasing 14.8% over the last 60 ...

Group 1: General Motors Company (GM) - General Motors has a Zacks Rank 1 (Strong Buy) and a 14.8% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 4.34, significantly lower than the industry average of 6.30 [1] - General Motors possesses a Value Score of A, indicating strong value characteristics [1] Group 2: Perion Network Ltd. (PERI) - Perion Network carries a Zacks Rank 1 and has seen a 0.6% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 6.75, compared to the industry average of 11.50 [1] - Perion also possesses a Value Score of A, reflecting its strong value characteristics [1] Group 3: AXIS Capital Holdings Limited (AXS) - AXIS Capital holds a Zacks Rank 1 and has experienced a nearly 6% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 5.93, which is much lower than the S&P 500 average of 20.97 [2] - AXIS Capital possesses a Value Score of A, indicating strong value characteristics [2]

Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 15th:Granite Point Mortgage Trust Inc. (GPMT) : This company that manages senior floating-rate commercial mortgage loans and debt-like commercial real estate investments has witnessed the Zacks Consensus Estimate for its next year earnings increasing 554.6% over the last 60 days.This Zacks Rank #1 company has a dividend yield of 15.8%, compared with the industry average of 12.4%.AXIS Capital Holdi ...

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the ...

Investors interested in Insurance - Property and Casualty stocks are likely familiar with Axis Capital (AXS) and Berkshire Hathaway B (BRK.B) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earni ...

Axis Capital (AXS) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this insurance company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estim ...

Financial Data and Key Metrics Changes - In 2023, AXIS Capital generated operating income of $486 million, with a return on average common equity of 7.9% and an operating return on equity of 11%. Excluding reserve strengthening, these figures were 15.4% and 18.5% respectively [6][14] - The company achieved record premium production of $8.4 billion and net investment income of $612 million, with a 15% year-over-year growth in diluted book value per share [6][14] - The current accident year combined ratio improved to 91.8%, a more than four-point year-over-year improvement [6] Business Line Data and Key Metrics Changes - The insurance business generated gross premiums written of $6.1 billion for the year, a 10% increase compared to the prior year, with a combined ratio of 92.5% [16][18] - The reinsurance segment saw a combined ratio of 107.6% for the year, which includes 14.6 points of net reserves strengthening [21] - The insurance accident year loss ratio was 52% for the quarter, consistent with previous quarters, while the reinsurance current accident year loss ratio ex-cat weather was 64.5% [19][21] Market Data and Key Metrics Changes - AXIS is a leading player in the US wholesale marketplace, achieving five consecutive years of double-digit growth, with a 76 accident year combined ratio in 2023 [8] - The company is recognized as a global leader in renewable energy, with a focus on profitable growth in this sector [8] - The reinsurance portfolio has transitioned to a more consistent and profitable book value, with favorable pricing above trend in most lines of business [20][21] Company Strategy and Development Direction - AXIS aims to elevate itself as a specialty underwriting leader, focusing on targeted underwriting strategies and a diversified portfolio [5][6] - The company is investing in best-in-class capabilities in underwriting, claims, and operations, with a focus on digital and automation improvements [10][11] - AXIS expects to deliver a consistent low 90s combined ratio and expense ratio in the low 30s, with double-digit ROE and book value per share growth [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2024, citing favorable market conditions and ongoing investments in people and operating capabilities [12][24] - The company anticipates continued growth in insurance and a strong capital position to support both growth and share repurchases [42][43] - Management highlighted the importance of maintaining a disciplined approach to underwriting and capital allocation in a competitive environment [7][12] Other Important Information - AXIS returned $38 million to shareholders through common dividends in 2023, with a total year-to-date capital return of approximately $153 million [24] - The company is evaluating the implications of Bermuda's Income Tax Act and expects to provide updates in the coming months [25] Q&A Session Summary Question: What kind of inflation assumptions were changed regarding reserve charges? - Management adjusted all inflation assumptions, moving trends to high single digits, encompassing social inflation and severity trends [28] Question: Where do you stand in terms of COVID-related reserves? - Some reserves remain for COVID claims, particularly in the reinsurance segment, while insurance reserves are mostly paid out [32] Question: Can you clarify the insurance loss ratio and any one-off items? - The underlying loss ratio was consistent, with no significant one-off items affecting the quarter [36] Question: What is the prioritization of capital towards buybacks versus organic growth? - The primary focus is on profitable growth, but the company also sees value in repurchasing shares at current prices [42][43] Question: Will the reserve charge impact the ceded reinsurance program in 2024? - While modest changes are expected, the reshaped portfolio should not lead to material impacts [45] Question: What is the outlook for total G&A expenses in 2024? - G&A expenses are expected to decrease as the company continues to improve efficiency [46] Question: How did timing affect reinsurance premiums? - Adjustments and renewals that moved out of the quarter contributed to lower premiums, with a normalized growth rate of just over 5% [49][50]

AXIS Capital Holdings Limited (AXS) posted fourth-quarter 2023 operating income of $2.94 per share, in contrast to the Zacks Consensus Estimate of a loss of $1.25. The bottom line increased 50.8% year over year.The insurer’s results reflected higher premiums written, net investment income and increased underwriting income.Quarterly Operational Update Total operating revenues of $1.5 billion beat the Zacks Consensus Estimate by 2.7%. The top line however declined 2.1% year over year on lower premiums earned. ...