Rafferty Asset Management LLC Has $6.94 Million Stock Position in Axos Financial, Inc. (NYSE:AX)

Rafferty Asset Management LLC cut its holdings in Axos Financial, Inc. (NYSE:AX - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,301 shares of the company's stock after selling 33,283 shares during the quarter. Rafferty Asset Management LLC owned about 0.17% of Axos Financial worth $6,936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AX. Illinois Municipal Retirement Fund lifted its stake in shares of Axos Financial by 0.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company's stock valued at $2,090,000 after purchasing an additional 196 shares during the period. Versor Investments LP increased its holdings in Axos Financial by 5.3% in the fourth quarter. Versor Investments LP now owns 4,000 shares of the company's stock valued at $279,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp lifted its stake in Axos Financial by 3.4% in the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock valued at $511,000 after buying an additional 241 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Axos Financial by 4.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock worth $399,000 after buying an additional 254 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Axos Financial by 2.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company's stock worth $948,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AX shares. Keefe, Bruyette & Woods lowered their price target on Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a research note on Wednesday, January 29th. Raymond James restated an "outperform" rating and set a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Piper Sandler cut their target price 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. DA Davidson reduced their price target 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. Finally, 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 target for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Axos Financial has an average rating of "Moderate Buy" and an average target price of $82.71.

Axos Financial Stock Down 0.4%

AX stock traded down $0.29 during mid-day trading on Friday, hitting $69.38. 65,916 shares of the company were exchanged, compared to its average volume of 518,199. 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 1-year low of $44.10 and a 1-year high of $88.46. The firm's 50 day simple moving average is $64.30 and its 200 day simple moving average is $69.93. The firm has a market cap of $3.91 billion, a P/E 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 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.07. The business had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. During the same period last year, the business posted $1.91 earnings per share. On average, sell-side analysts predict that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has approved a share buyback program on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Sara Wardell-Smith purchased 3,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company's stock, valued at $663,482.50. The trade was a 41.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction that occurred on 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 sale, the director now owns 113,295 shares in the company, valued at $7,714,256.55. This trade represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.07% of the company's stock.

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.