Axos Financial, Inc $AX Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Axos Financial by 21.5%, acquiring a total of 39,600 shares worth approximately $3 million.
• Multiple institutional investors, including Wealth Enhancement Advisory Services and Militia Capital Partners, have also boosted their holdings in Axos Financial during the second quarter.
• Axos Financial reported earnings per share of $1.94 for the last quarter, surpassing analysts' expectations, and experienced a 10.5% increase in revenue year-over-year.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,600 shares of the company's stock after buying an additional 7,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.07% of Axos Financial worth $3,011,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial during the 4th quarter worth approximately $35,000. GAMMA Investing LLC raised its stake in shares of Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after buying an additional 516 shares during the period. Quarry LP acquired a new position in shares of Axos Financial during the 1st quarter worth approximately $119,000. Palouse Capital Management Inc. raised its stake in shares of Axos Financial by 37.2% during the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after buying an additional 718 shares during the period. Finally, Strs Ohio acquired a new position in shares of Axos Financial during the 1st quarter worth approximately $194,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Trading Up 1.7%

Shares of AX traded up $1.46 during midday trading on Tuesday, reaching $89.43. The company had a trading volume of 129,601 shares, compared to its average volume of 385,635. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $93.84. The stock has a market cap of $5.05 billion, a PE ratio of 11.99 and a beta of 1.32. The firm has a 50 day simple moving average of $87.91 and a 200-day simple moving average of $75.26. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The business had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same period last year, the company earned $1.83 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

AX has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Needham & Company LLC increased their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. DA Davidson increased their price objective on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $100.00 price objective (up from $95.00) on shares of Axos Financial in a research note on Tuesday. Five equities research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $91.57.

Insider Transactions at Axos Financial

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the sale, the executive vice president directly owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Candace L. Thiele sold 700 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $90.14, for a total value of $63,098.00. Following the sale, the executive vice president directly owned 23 shares of the company's stock, valued at $2,073.22. The trade was a 96.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

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.