Wellington Management Group LLP Sells 164,557 Shares of Axos Financial, Inc. (NYSE:AX)

Wellington Management Group LLP reduced its holdings in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 641,251 shares of the company's stock after selling 164,557 shares during the quarter. Wellington Management Group LLP owned 1.12% of Axos Financial worth $44,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in Axos Financial by 32.6% during the 3rd quarter. Barclays PLC now owns 142,715 shares of the company's stock valued at $8,974,000 after acquiring an additional 35,087 shares during the last quarter. KBC Group NV boosted its stake in Axos Financial by 53.8% during the 4th quarter. KBC Group NV now owns 2,469 shares of the company's stock valued at $172,000 after acquiring an additional 864 shares during the last quarter. R Squared Ltd bought a new position in Axos Financial during the 4th quarter valued at $66,000. Heck Capital Advisors LLC bought a new position in Axos Financial during the 4th quarter valued at $35,000. Finally, SkyOak Wealth LLC bought a new position in Axos Financial during the 4th quarter valued at $328,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Stock Performance

Shares of AX stock traded up $0.07 during trading hours on Monday, reaching $69.61. The stock had a trading volume of 150,823 shares, compared to its average volume of 507,358. The firm has a market capitalization of $3.92 billion, a PE ratio of 9.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day simple moving average of $64.95 and a 200-day simple moving average of $69.38. Axos Financial, Inc. has a twelve month low of $44.10 and a twelve month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The company had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. During the same quarter last year, the firm posted $1.91 EPS. As a group, equities analysts forecast that Axos Financial, Inc. will post 7.22 earnings per share for the current year.

Axos Financial declared that its Board of Directors has initiated a share buyback program on Monday, May 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AX. Raymond James restated an "outperform" rating and issued a $72.00 price target (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Jefferies Financial Group began coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $88.00 price target on shares of Axos Financial in a research report on Thursday, May 1st. Piper Sandler reduced their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, DA Davidson reduced 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 report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Axos Financial presently has a consensus rating of "Moderate Buy" and an average target price of $82.71.

Insider Activity

In other Axos Financial news, Director Sara Wardell-Smith bought 3,000 shares of Axos Financial stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $64.73 per share, for a total transaction of $194,190.00. Following the completion of the purchase, the director now directly owns 10,250 shares of the company's stock, valued at $663,482.50. The trade was a 41.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the completion of the sale, the director now owns 113,295 shares of the company's stock, valued at $7,714,256.55. This trade represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

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.