Intech Investment Management LLC Boosts Holdings in Axos Financial, Inc $AX

Intech Investment Management LLC grew its position in shares of Axos Financial, Inc (NYSE:AX) by 40.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,317 shares of the company’s stock after buying an additional 17,028 shares during the quarter. Intech Investment Management LLC’s holdings in Axos Financial were worth $5,021,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AX. Salomon & Ludwin LLC acquired a new position in shares of Axos Financial during the third quarter worth about $26,000. Bessemer Group Inc. boosted its holdings in Axos Financial by 59.6% in the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. True Wealth Design LLC increased its position in Axos Financial by 120.9% during the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $33,000 after purchasing an additional 237 shares during the period. EverSource Wealth Advisors LLC increased its position in Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of Axos Financial during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

AX has been the topic of a number of analyst reports. DA Davidson lifted their price target on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Axos Financial in a report on Friday, February 13th. Finally, Jefferies Financial Group upped their target price on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Axos Financial presently has a consensus rating of “Buy” and a consensus target price of $104.50.

Insider Activity at Axos Financial

In other news, Director James John Court sold 11,163 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the completion of the transaction, the director directly owned 32,169 shares of the company’s stock, valued at $3,249,390.69. The trade was a 25.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Derrick Walsh sold 4,846 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the completion of the sale, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,593 shares of company stock valued at $6,274,883 in the last ninety days. 4.85% of the stock is owned by insiders.

Axos Financial Stock Performance

Shares of AX opened at $86.61 on Friday. Axos Financial, Inc has a 12-month low of $54.46 and a 12-month high of $101.92. The stock has a market cap of $4.91 billion, a P/E ratio of 10.98 and a beta of 1.27. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $93.30 and a two-hundred day moving average of $87.63.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The business had revenue of $385.09 million during the quarter, compared to analysts’ expectations of $345.89 million. During the same period last year, the company posted $1.82 EPS. The company’s revenue was up 25.1% on a year-over-year basis. As a group, research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

About Axos Financial

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.