Quantinno Capital Management LP Boosts Stake in Axos Financial, Inc $AX

Key Points

• Quantinno Capital Management increased its Axos Financial stake by 236.5% in the first quarter, owning 56,525 shares valued at approximately $4.81 million. Institutional investors and hedge funds collectively own 83.79% of the company.
• Axos Financial shares opened at $102.03, with the stock trading between a 52-week range of $74.89 and $105.74. The company has a $5.80 billion market capitalization and a P/E ratio of 12.05.
• Analyst sentiment remains positive, with an overall “Buy” consensus and an average price target of $114.83. Recent targets range from $110 to $128, while an executive sold 1,653 shares in an insider transaction.

Quantinno Capital Management LP boosted its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 236.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 56,525 shares of the company's stock after purchasing an additional 39,729 shares during the period. Quantinno Capital Management LP owned about 0.10% of Axos Financial worth $4,810,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Axos Financial in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Axos Financial in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new stake in Axos Financial during the third quarter worth about $29,000. State of Wyoming acquired a new stake in shares of Axos Financial during the first quarter worth about $30,000. Finally, Torren Management LLC purchased a new position in shares of Axos Financial in the fourth quarter valued at approximately $36,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Stock Down 1.7%

Shares of Axos Financial stock opened at $102.03 on Friday. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $105.74. The company has a 50 day moving average of $94.72 and a 200 day moving average of $92.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.80 billion, a P/E ratio of 12.05 and a beta of 1.22.

Insider Buying and Selling

In related news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction 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 $384,671.84. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark initiated coverage on shares of Axos Financial in a research note on Wednesday, July 8th. They set a "buy" rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. Needham & Company LLC lifted their target price on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, DA Davidson set a $121.00 target price on Axos Financial in a research note on Friday, July 31st. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $114.83.

Axos Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source