Nuveen Asset Management LLC Sells 96,301 Shares of Axos Financial, Inc. (NYSE:AX)

Nuveen Asset Management LLC lessened its stake in Axos Financial, Inc. (NYSE:AX - Free Report) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 618,545 shares of the company's stock after selling 96,301 shares during the quarter. Nuveen Asset Management LLC owned 1.08% of Axos Financial worth $43,205,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in AX. Illinois Municipal Retirement Fund grew its holdings in Axos Financial by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company's stock worth $2,090,000 after acquiring an additional 196 shares during the period. Versor Investments LP boosted its position in Axos Financial by 5.3% during the fourth quarter. Versor Investments LP now owns 4,000 shares of the company's stock worth $279,000 after purchasing an additional 200 shares in the last quarter. Stifel Financial Corp boosted its position in Axos Financial by 3.4% during the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock worth $511,000 after purchasing an additional 241 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Axos Financial by 4.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock worth $399,000 after purchasing an additional 254 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Axos Financial by 2.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company's stock valued at $948,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Axos Financial Price Performance

Shares of AX traded down $0.13 during midday trading on Friday, reaching $69.54. The stock had a trading volume of 267,513 shares, compared to its average volume of 516,767. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. 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's 50 day moving average price is $64.42 and its 200-day moving average price is $69.80. The company has a market capitalization of $3.92 billion, a P/E ratio of 9.35 and a beta of 1.25.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The business had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. On average, analysts forecast that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Axos Financial

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AX. DA Davidson lowered their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $88.00 target price on shares of Axos Financial in a research report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their target price on Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, January 29th. Raymond James reiterated an "outperform" rating and issued a $72.00 target price (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Finally, Jefferies Financial Group began coverage on Axos Financial in a research report on Wednesday. They issued a "buy" rating and a $90.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Axos Financial has an average rating of "Moderate Buy" and an average price target of $82.71.

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.