Envestnet Asset Management Inc. Purchases 7,203 Shares of Axos Financial, Inc. (NYSE:AX)

Envestnet Asset Management Inc. increased its position in Axos Financial, Inc. (NYSE:AX - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,445 shares of the company's stock after purchasing an additional 7,203 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Axos Financial worth $3,035,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Axos Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company's stock worth $428,153,000 after acquiring an additional 49,695 shares during the last quarter. American Century Companies Inc. increased its position in Axos Financial by 9.6% in the 4th quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock valued at $130,953,000 after acquiring an additional 163,952 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Axos Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock valued at $103,975,000 after purchasing an additional 43,503 shares during the last quarter. Boston Partners bought a new position in Axos Financial in the 4th quarter worth approximately $29,918,000. Finally, JPMorgan Chase & Co. boosted its position in Axos Financial by 45.8% in the 4th quarter. JPMorgan Chase & Co. now owns 410,590 shares of the company's stock valued at $28,680,000 after buying an additional 128,932 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AX. DA Davidson dropped their price objective on Axos Financial from $96.00 to $88.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Piper Sandler decreased their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday. Keefe, Bruyette & Woods decreased their price objective on 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. Needham & Company LLC reissued a "buy" rating and issued a $88.00 target price on shares of Axos Financial in a research report on Thursday. Finally, Raymond James restated an "outperform" rating and set a $80.00 target price (up from $75.00) on shares of Axos Financial in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.50.

Axos Financial Price Performance

Shares of AX traded up $0.95 during midday trading on Thursday, hitting $64.43. The company's stock had a trading volume of 73,924 shares, compared to its average volume of 526,236. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. Axos Financial, Inc. has a one year low of $44.10 and a one year high of $88.46. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 8.66 and a beta of 1.33. The company's fifty day simple moving average is $62.54 and its two-hundred day simple moving average is $69.51.

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 company had revenue of $432.72 million during the quarter, compared to analysts' expectations of $305.04 million. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. During the same period in the prior year, the company earned $1.91 EPS. As a group, equities analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sara Wardell-Smith purchased 3,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $64.73 per share, for a total transaction of $194,190.00. Following the completion of the acquisition, the director now owns 10,250 shares in the company, valued at $663,482.50. This trade represents a 41.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.07% of the company's stock.

About Axos Financial

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.