American Century Companies Inc. Buys 276,450 Shares of Axos Financial, Inc $AX

Key Points

• American Century Companies Inc. has increased its ownership in Axos Financial, Inc. by 14.7%, acquiring an additional 276,450 shares, bringing its total shareholding to approximately 2.15 million shares valued at $138.8 million.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and NewEdge Advisors LLC, have also significantly increased their positions in Axos Financial, showcasing a growing interest in the company.
• Analyst ratings for Axos Financial have improved, with notable upgrades from firms like Needham & Company LLC and DA Davidson, raising their price targets and affirming a "buy" sentiment around the stock.

American Century Companies Inc. boosted its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,151,229 shares of the company's stock after acquiring an additional 276,450 shares during the period. American Century Companies Inc. owned 3.82% of Axos Financial worth $138,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AX. Northern Trust Corp lifted its stake in shares of Axos Financial by 4.7% during the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company's stock valued at $51,887,000 after buying an additional 33,207 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Axos Financial by 8.7% during the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock valued at $47,330,000 after buying an additional 54,238 shares in the last quarter. Nuveen LLC purchased a new position in shares of Axos Financial during the 1st quarter valued at $35,240,000. Emerald Advisers LLC lifted its stake in shares of Axos Financial by 11.4% during the 1st quarter. Emerald Advisers LLC now owns 533,586 shares of the company's stock valued at $34,427,000 after buying an additional 54,466 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Axos Financial by 18.2% during the 1st quarter. Boston Partners now owns 504,815 shares of the company's stock valued at $31,191,000 after buying an additional 77,730 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Price Performance

Shares of NYSE AX traded up $4.4690 during mid-day trading on Friday, hitting $90.2990. 249,616 shares of the company's stock traded hands, compared to its average volume of 388,168. The company's 50-day moving average is $82.30 and its two-hundred day moving average is $71.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $5.09 billion, a P/E ratio of 12.13 and a beta of 1.32. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $90.87.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.82 by $0.12. The company had revenue of $321.45 million for the quarter, compared to the consensus estimate of $311.73 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. On average, equities analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its Board of Directors has approved a share buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Piper Sandler lowered their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Needham & Company LLC raised their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

Insider Buying and Selling

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the transaction, the executive vice president directly owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.07% of the company's stock.

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.