California State Teachers Retirement System Grows Position in Axos Financial, Inc $AX

Key Points

• California State Teachers Retirement System increased its Axos Financial stake by 22.2% in the first quarter, bringing its holdings to 62,401 shares valued at about $5.31 million. Institutional investors collectively own 83.79% of the company.
• Axos Financial shares opened at $102.03, near their 52-week high of $105.74, with a $5.8 billion market capitalization and a P/E ratio of 12.05. An executive vice president separately sold 1,653 shares, reducing his ownership by 26.47%.
• Analyst sentiment remains positive: the stock has a consensus “Buy” rating and an average price target of $114.83, with Needham raising its target to $128.

California State Teachers Retirement System raised its position in Axos Financial, Inc (NYSE:AX - Free Report) by 22.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,401 shares of the company's stock after acquiring an additional 11,346 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Axos Financial worth $5,310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Axos Financial by 0.9% in the first quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after buying an additional 1,015 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Axos Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock worth $2,099,000 after acquiring an additional 1,429 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Axos Financial in the 1st quarter valued at about $212,000. Cetera Investment Advisers increased its holdings in shares of Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after acquiring an additional 141 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Axos Financial during the 2nd quarter worth about $6,252,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Trading Down 1.7%

Shares of Axos Financial stock opened at $102.03 on Friday. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $105.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $5.80 billion, a P/E ratio of 12.05 and a beta of 1.22. The company's fifty day moving average is $94.72 and its two-hundred day moving average is $92.16.

Insider Activity

In other news, EVP Michael James Watson sold 1,653 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the transaction, the executive vice president owned 4,592 shares of the company's stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.85% of the company's stock.

Analyst Upgrades and Downgrades

AX has been the subject of several recent analyst reports. Benchmark started coverage on Axos Financial in a research note on Wednesday, July 8th. They set a "buy" rating and a $115.00 target price for the company. DA Davidson set a $121.00 price objective on shares of Axos Financial in a report on Friday, July 31st. Needham & Company LLC boosted their price objective 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 shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $114.83.

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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