Ameriprise Financial Inc. Grows Holdings in Axos Financial, Inc. (NYSE:AX)

Ameriprise Financial Inc. grew its stake in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,546 shares of the company's stock after buying an additional 54,238 shares during the period. Ameriprise Financial Inc. owned 1.19% of Axos Financial worth $47,330,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AX. Boston Partners bought a new stake in Axos Financial during the fourth quarter valued at about $29,918,000. Raymond James Financial Inc. purchased a new stake in shares of Axos Financial during the fourth quarter worth about $16,464,000. American Century Companies Inc. grew its position in shares of Axos Financial by 9.6% during the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock worth $130,953,000 after purchasing an additional 163,952 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Axos Financial by 255.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock valued at $13,946,000 after purchasing an additional 143,474 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Axos Financial in the 4th quarter worth approximately $9,849,000. 83.79% of the stock is currently owned by institutional investors.

Axos Financial Price Performance

AX stock traded down $0.66 during trading on Friday, hitting $72.06. 51,472 shares of the company's stock traded hands, compared to its average volume of 416,180. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 9.69 and a beta of 1.25. The business has a fifty day simple moving average of $63.47 and a 200 day simple moving average of $69.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. The firm had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. During the same quarter last year, the firm earned $1.91 EPS. As a group, research analysts expect that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the sale, the director now directly owns 113,295 shares of the company's stock, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sara Wardell-Smith acquired 3,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now owns 10,250 shares of the company's stock, valued at $663,482.50. The trade was a 41.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.07% of the company's stock.

Analyst Ratings Changes

AX has been the subject of a number of research analyst reports. DA Davidson cut their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their target price on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, January 29th. Piper Sandler reduced their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $88.00 price objective on shares of Axos Financial in a report on Thursday, May 1st. Finally, Raymond James restated an "outperform" rating and set a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Axos Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.