Lazard Asset Management LLC Sells 113,704 Shares of Axos Financial, Inc. (NYSE:AX)

Lazard Asset Management LLC cut its position in Axos Financial, Inc. (NYSE:AX - Free Report) by 80.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,963 shares of the company's stock after selling 113,704 shares during the period. Lazard Asset Management LLC's holdings in Axos Financial were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AX. Janus Henderson Group PLC lifted its position in shares of Axos Financial by 0.9% during the fourth quarter. Janus Henderson Group PLC now owns 50,399 shares of the company's stock worth $3,520,000 after purchasing an additional 427 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Axos Financial during the fourth quarter worth approximately $261,000. Fred Alger Management LLC acquired a new position in shares of Axos Financial during the fourth quarter worth approximately $494,000. Deutsche Bank AG lifted its position in shares of Axos Financial by 143.9% during the fourth quarter. Deutsche Bank AG now owns 92,818 shares of the company's stock worth $6,483,000 after purchasing an additional 54,759 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Axos Financial by 19.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 49,958 shares of the company's stock worth $3,490,000 after purchasing an additional 7,977 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sara Wardell-Smith bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost 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 $663,482.50. This represents a 41.38% increase in their position. The disclosure for this purchase can be found here. 5.07% of the stock is owned by insiders.

Axos Financial Trading Down 3.5%

NYSE:AX traded down $2.52 during trading hours on Wednesday, hitting $69.39. The stock had a trading volume of 340,543 shares, compared to its average volume of 519,465. The business's 50 day moving average is $64.07 and its 200-day moving average is $69.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. Axos Financial, Inc. has a one year low of $44.10 and a one year high of $88.46. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 9.33 and a beta of 1.25.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $305.04 million. During the same quarter in the prior year, the firm earned $1.91 earnings per share. Sell-side analysts anticipate that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has authorized a share repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.