Axos Financial, Inc $AX Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Axos Financial stake by 43.8% in the second quarter, selling 367,267 shares and retaining 470,586 shares valued at approximately $45.8 million. Institutional investors still own 83.79% of the company.
• Axos Financial reported quarterly EPS of $2.53, beating the $2.16 analyst consensus, while revenue of $379.77 million also exceeded estimates. The company posted a 22.39% net margin and 16.96% return on equity.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $115.67, above its reported opening price of $97.03.

Wellington Management Group LLP decreased its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 43.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 470,586 shares of the company's stock after selling 367,267 shares during the period. Wellington Management Group LLP owned approximately 0.83% of Axos Financial worth $45,830,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Axos Financial during the 2nd quarter worth $817,051,000. Principal Financial Group Inc. raised its stake in shares of Axos Financial by 4.9% during the first quarter. Principal Financial Group Inc. now owns 353,951 shares of the company's stock valued at $30,118,000 after purchasing an additional 16,627 shares during the period. Kennedy Capital Management LLC lifted its holdings in Axos Financial by 12.3% in the 4th quarter. Kennedy Capital Management LLC now owns 308,935 shares of the company's stock worth $26,618,000 after buying an additional 33,854 shares in the last quarter. Jackson Creek Investment Advisors LLC boosted its holdings in Axos Financial by 714.0% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 20,725 shares of the company's stock valued at $1,786,000 after purchasing an additional 18,179 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Axos Financial by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company's stock valued at $154,687,000 after buying an additional 62,269 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Trading Up 1.1%

Axos Financial stock opened at $97.03 on Friday. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $105.74. The firm's 50-day moving average is $98.40 and its 200-day moving average is $92.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $5.51 billion, a P/E ratio of 11.46 and a beta of 1.22.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. The business had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, equities analysts expect that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AX. DA Davidson set a $121.00 price objective on shares of Axos Financial in a report on Friday, July 31st. Needham & Company LLC increased their price target on shares of Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. Benchmark boosted their price objective on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods increased their target price on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Axos Financial currently has an average rating of "Moderate Buy" and a consensus target price of $115.67.

Insider Buying and Selling at Axos Financial

In related news, Director Roque Santi sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director owned 7,146 shares of the company's stock, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.85% of the company's stock.

Axos Financial Company Profile

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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