Axos Financial, Inc (NYSE:AX) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,799 shares of the company's stock after purchasing an additional 9,881 shares during the period. Principal Financial Group Inc. owned approximately 0.61% of Axos Financial worth $22,440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in Axos Financial in the fourth quarter worth $35,000. NewEdge Advisors LLC grew its position in Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after acquiring an additional 850 shares in the last quarter. GAMMA Investing LLC grew its position in Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after acquiring an additional 516 shares in the last quarter. US Bancorp DE grew its position in Axos Financial by 80.7% in the fourth quarter. US Bancorp DE now owns 1,859 shares of the company's stock worth $130,000 after acquiring an additional 830 shares in the last quarter. Finally, Covestor Ltd grew its position in Axos Financial by 24.1% in the fourth quarter. Covestor Ltd now owns 2,274 shares of the company's stock worth $158,000 after acquiring an additional 442 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AX. Jefferies Financial Group began coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $85.00 to $90.00 and gave the stock a "market perform" rating in a research report on Friday. Raymond James Financial upped their target price on shares of Axos Financial from $72.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Needham & Company LLC upped their target price on shares of Axos Financial from $88.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Piper Sandler lowered their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.86.

Axos Financial Trading Down 0.8%

Axos Financial stock traded down $0.70 during mid-day trading on Friday, hitting $84.01. The company's stock had a trading volume of 369,343 shares, compared to its average volume of 471,580. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 11.45 and a beta of 1.29. The business has a 50 day moving average price of $73.52 and a 200-day moving average price of $68.71. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.07. The business had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. During the same period in the previous year, the firm posted $1.91 earnings per share. As a group, analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial declared that its Board of Directors has approved a stock repurchase plan on Monday, May 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the completion of the transaction, the director directly owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.07% of the company's stock.

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.