Rafferty Asset Management LLC Has $6.94 Million Holdings 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 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,301 shares of the company's stock after selling 33,283 shares during the period. Rafferty Asset Management LLC owned approximately 0.17% of Axos Financial worth $6,936,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Axos Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company's stock worth $428,153,000 after purchasing an additional 49,695 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Axos Financial by 9.6% in the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock valued at $130,953,000 after buying an additional 163,952 shares during the period. Geode Capital Management LLC grew its position in Axos Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock worth $103,975,000 after buying an additional 43,503 shares in the last quarter. Northern Trust Corp increased its stake in Axos Financial by 4.7% during the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company's stock worth $51,887,000 after acquiring an additional 33,207 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Axos Financial by 8.7% during the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock worth $47,330,000 after acquiring an additional 54,238 shares during the period. 83.79% of the stock is owned by institutional investors.

Insider Activity at Axos Financial

In other Axos Financial news, Director Sara Wardell-Smith purchased 3,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $64.73 per share, for a total transaction of $194,190.00. Following the completion of the acquisition, the director now owns 10,250 shares in the company, valued at approximately $663,482.50. This trade represents a 41.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Grinberg sold 30,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was 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 directly owns 113,295 shares in the company, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler cut their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods cut their price objective on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $88.00 target price on shares of Axos Financial in a report on Thursday, May 1st. DA Davidson dropped their target price on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company 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 set a "buy" rating and a $90.00 price target for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $82.71.

Axos Financial Price Performance

Shares of AX traded down $2.52 during mid-day trading on Wednesday, reaching $69.39. The company had a trading volume of 340,543 shares, compared to its average volume of 520,298. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 9.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. The company's 50 day simple moving average is $64.07 and its 200 day simple moving average is $69.90. Axos Financial, Inc. has a 1-year low of $44.10 and a 1-year high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. The firm 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 quarter last year, the business posted $1.91 earnings per share. Analysts expect 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 buyback program on Monday, May 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Axos Financial Company 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.