Livforsakringsbolaget Skandia Omsesidigt Purchases New Position in Axos Financial, Inc $AX

Key Points

• Livforsakringsbolaget Skandia Omsesidigt acquired 44,700 shares of Axos Financial during the second quarter, worth approximately $4.35 million. Institutional investors collectively own 83.79% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $115.67; individual targets range from $110 to $128.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS versus the $2.16 consensus and revenue of $379.77 million versus estimates of $375.54 million.

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 44,700 shares of the company's stock, valued at approximately $4,353,000. Livforsakringsbolaget Skandia Omsesidigt owned 0.08% of Axos Financial as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers grew its holdings in Axos Financial by 0.7% during the 4th quarter. Cetera Investment Advisers now owns 16,547 shares of the company's stock valued at $1,426,000 after purchasing an additional 108 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Axos Financial by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,495 shares of the company's stock valued at $301,000 after purchasing an additional 113 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Axos Financial by 0.9% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,871 shares of the company's stock valued at $1,281,000 after purchasing an additional 132 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Axos Financial by 7.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company's stock valued at $188,000 after buying an additional 146 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its stake in shares of Axos Financial by 0.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,663 shares of the company's stock valued at $1,522,000 after buying an additional 146 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AX. DA Davidson set a $121.00 price target on shares of Axos Financial in a report on Friday, July 31st. Benchmark boosted their target price on shares of Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods upped 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 note on Friday, July 31st. Weiss Ratings raised shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Finally, Needham & Company LLC lifted their price target on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Axos Financial has a consensus rating of "Moderate Buy" and an average target price of $115.67.

Axos Financial Price Performance

Shares of NYSE:AX opened at $97.83 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $98.10 and a 200 day simple moving average of $92.48. Axos Financial, Inc has a fifty-two week low of $74.89 and a fifty-two week high of $105.74. The company has a market cap of $5.55 billion, a PE ratio of 11.55 and a beta of 1.22.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.16 by $0.37. The company had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.During the same period in the prior year, the company earned $1.94 earnings per share. On average, sell-side analysts anticipate that Axos Financial, Inc will post 9.59 EPS for the current year.

Insider Buying and Selling

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director directly owned 7,146 shares of the company's stock, valued at $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.85% of the stock is currently owned by insiders.

Axos Financial Company Profile

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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