Axos Financial, Inc $AX Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Axos Financial stake by 51.1% in the fourth quarter, selling 30,283 shares and ending with 29,034 shares worth about $2.5 million.
• Axos Financial reported mixed quarterly results: EPS of $1.90 missed expectations of $2.13, but revenue of $392.25 million came in above estimates. Analysts still expect full-year EPS of 8.57.
• Insider selling and analyst sentiment remain notable, with a director and EVP both reducing holdings, while Wall Street’s consensus rating is still Moderate Buy with an average price target of $109.40.

Intech Investment Management LLC trimmed its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,034 shares of the company's stock after selling 30,283 shares during the period. Intech Investment Management LLC owned approximately 0.05% of Axos Financial worth $2,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AX. Bessemer Group Inc. lifted its stake in Axos Financial by 59.6% during the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company's stock valued at $29,000 after acquiring an additional 130 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Axos Financial during the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock valued at $34,000 after acquiring an additional 333 shares during the period. Torren Management LLC acquired a new stake in Axos Financial during the 4th quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC lifted its stake in Axos Financial by 43.2% during the 4th quarter. Salomon & Ludwin LLC now owns 441 shares of the company's stock valued at $39,000 after acquiring an additional 133 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Price Performance

Axos Financial stock opened at $87.91 on Wednesday. Axos Financial, Inc has a 52-week low of $69.08 and a 52-week high of $101.92. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 10.68 and a beta of 1.24. The company has a fifty day simple moving average of $89.03 and a 200-day simple moving average of $88.97. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.The business had revenue of $392.25 million for the quarter, compared to analysts' expectations of $372.51 million. During the same period in the previous year, the company earned $1.81 EPS. On average, equities analysts anticipate that Axos Financial, Inc will post 8.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roque A. Santi sold 500 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the sale, the director owned 7,646 shares of the company's stock, valued at $671,089.42. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares of the company's stock, valued at $384,671.84. The trade was a 26.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $110.00 price objective on shares of Axos Financial in a research note on Monday, March 16th. Raymond James Financial raised shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $110.00 to $100.00 in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Axos Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 14th. Finally, Zacks Research lowered shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $109.40.

About Axos Financial

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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