AXOS FINANCIAL, INC $AX Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in AXOS FINANCIAL by 123.4%, acquiring 21,847 shares to own a total of 39,552 shares valued at approximately $2.55 million.
• A significant number of institutional investors have modified their positions in AXOS FINANCIAL, with institutional ownership at 83.79% of the company’s stock.
• AXOS FINANCIAL reported better-than-expected earnings with $1.94 per share, exceeding analysts' estimates, and has launched a $100 million stock repurchase program as a sign of confidence in its valuation.

Russell Investments Group Ltd. increased its position in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 123.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,552 shares of the company's stock after buying an additional 21,847 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of AXOS FINANCIAL worth $2,552,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in AXOS FINANCIAL by 94.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock worth $517,000 after buying an additional 3,901 shares during the last quarter. NewEdge Advisors LLC grew its stake in AXOS FINANCIAL by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC grew its stake in AXOS FINANCIAL by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after buying an additional 516 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in AXOS FINANCIAL by 16.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock worth $3,252,000 after buying an additional 6,957 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in AXOS FINANCIAL during the 1st quarter worth approximately $750,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

AXOS FINANCIAL Stock Performance

AXOS FINANCIAL stock traded down $0.26 during mid-day trading on Friday, reaching $91.09. 212,601 shares of the company were exchanged, compared to its average volume of 343,566. AXOS FINANCIAL, INC has a twelve month low of $54.46 and a twelve month high of $92.99. The firm's 50-day simple moving average is $84.77 and its two-hundred day simple moving average is $72.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $5.15 billion, a PE ratio of 12.21 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.82 by $0.12. The business had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. Equities analysts predict that AXOS FINANCIAL, INC will post 7.22 earnings per share for the current fiscal year.

AXOS FINANCIAL announced that its board has approved a stock repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AX. Wall Street Zen upgraded AXOS FINANCIAL from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. DA Davidson increased their price objective on AXOS FINANCIAL from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC increased their price objective on AXOS FINANCIAL from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group initiated coverage on AXOS FINANCIAL in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $95.00 price objective (up from $90.00) on shares of AXOS FINANCIAL in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.86.

Insider Activity at AXOS FINANCIAL

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.07% of the stock is owned by corporate insiders.

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.