Assenagon Asset Management S.A. Reduces Stock Holdings in Axos Financial, Inc (NYSE:AX)

Assenagon Asset Management S.A. decreased its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 61.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,619 shares of the company's stock after selling 86,385 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Axos Financial worth $3,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners acquired a new position in Axos Financial during the fourth quarter worth about $29,918,000. Raymond James Financial Inc. purchased a new position in shares of Axos Financial during the 4th quarter worth approximately $16,464,000. American Century Companies Inc. raised its position in shares of Axos Financial by 9.6% during the 4th 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 during the last quarter. Epoch Investment Partners Inc. lifted its stake in Axos Financial by 255.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock valued at $13,946,000 after buying an additional 143,474 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Trading Up 1.7%

NYSE:AX traded up $1.19 during mid-day trading on Thursday, reaching $70.97. The company's stock had a trading volume of 402,704 shares, compared to its average volume of 476,328. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $4.00 billion, a P/E ratio of 9.67 and a beta of 1.29. The company's fifty day simple moving average is $67.43 and its two-hundred day simple moving average is $68.52. Axos Financial, Inc has a twelve month low of $52.77 and a twelve month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The business had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same period in the prior year, the firm posted $1.91 EPS. On average, equities analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial declared that its board has authorized a stock buyback plan on Monday, May 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the transaction, the director now directly owns 113,295 shares of the company's stock, valued at $7,714,256.55. The trade was a 20.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on AX shares. Jefferies Financial Group initiated coverage on Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target for the company. Raymond James Financial reiterated 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. Wall Street Zen downgraded shares of Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. DA Davidson decreased their price target on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler cut their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Axos Financial has an average rating of "Moderate Buy" and a consensus price target of $82.71.

Axos Financial 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.