Algert Global LLC Has $14.31 Million Holdings in Axos Financial, Inc $AX

Key Points

• Algert Global LLC increased its stake in Axos Financial by 27.7%, acquiring a total of 221,730 shares valued at approximately $14.3 million as of the end of the last reporting period.
• Axos Financial has received favorable analyst upgrades, with Needham & Company raising their price target from $92 to $102 and maintaining a "buy" rating.
• Insider transactions reported included EVP Andrew J. Micheletti selling 13,960 shares for about $1.19 million, reducing his holdings in the company by 17.15%.

Algert Global LLC grew its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 27.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,730 shares of the company's stock after buying an additional 48,096 shares during the period. Algert Global LLC owned approximately 0.39% of Axos Financial worth $14,306,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AX. Wells Fargo & Company MN increased its position in Axos Financial by 14.7% during the 4th quarter. Wells Fargo & Company MN now owns 70,916 shares of the company's stock worth $4,954,000 after buying an additional 9,082 shares during the period. Envestnet Asset Management Inc. increased its position in Axos Financial by 19.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 43,445 shares of the company's stock worth $3,035,000 after buying an additional 7,203 shares during the period. Cerity Partners LLC increased its position in Axos Financial by 17.1% during the 4th quarter. Cerity Partners LLC now owns 14,341 shares of the company's stock worth $946,000 after buying an additional 2,090 shares during the period. Raymond James Financial Inc. bought a new position in Axos Financial during the 4th quarter worth $16,464,000. Finally, Summit Investment Advisors Inc. increased its position in Axos Financial by 4.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock worth $399,000 after buying an additional 254 shares during the period. Institutional investors own 83.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Needham & Company LLC increased their price objective on Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group assumed coverage on Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Raymond James Financial restated an "outperform" rating and issued a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Finally, Piper Sandler decreased their price target on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Five investment 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, Axos Financial currently has an average rating of "Moderate Buy" and an average target price of $90.86.

Axos Financial Price Performance

Shares of NYSE AX traded up $4.8930 during mid-day trading on Friday, reaching $90.7230. The company had a trading volume of 288,055 shares, compared to its average volume of 388,321. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. Axos Financial, Inc has a one year low of $54.46 and a one year high of $90.87. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 12.16 and a beta of 1.32. The business's 50-day simple moving average is $82.30 and its 200 day simple moving average is $71.80.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 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 company had revenue of $321.45 million for the quarter, compared to analysts' expectations of $311.73 million. During the same quarter last year, the business earned $1.83 earnings per share. Axos Financial's revenue was up 10.5% on a year-over-year basis. On average, research analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Axos Financial announced that its board has authorized a stock repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

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 value of $1,191,904.80. Following the sale, the executive vice president directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This trade represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.07% of the stock is 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.