SG Americas Securities LLC Boosts Stock Position in Axos Financial, Inc $AX

Key Points

• SG Americas Securities LLC boosted its stake by 67.6% in Q4 to 38,444 shares (about $3.31M), part of roughly 83.8% institutional ownership in Axos Financial.
• Axos beat Q4 estimates with $2.25 EPS (vs. $2.07) and $385.1M revenue (vs. $345.9M), with revenue up 25.1% YoY, spurring analyst upgrades and a consensus "Buy" rating with a $104.50 target.
• Insider selling has been notable: insiders sold 59,303 shares in the past 90 days (including the CEO's 43,294-share sale), leaving insiders with 4.85% ownership.

SG Americas Securities LLC raised its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 67.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,444 shares of the company's stock after buying an additional 15,509 shares during the period. SG Americas Securities LLC owned about 0.07% of Axos Financial worth $3,312,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Horizon Investment Services LLC raised its position in shares of Axos Financial by 297.1% during the 3rd quarter. Horizon Investment Services LLC now owns 14,586 shares of the company's stock worth $1,235,000 after acquiring an additional 10,913 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Axos Financial by 62.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company's stock valued at $21,538,000 after purchasing an additional 99,042 shares in the last quarter. American Century Companies Inc. boosted its holdings in Axos Financial by 1.5% in the third quarter. American Century Companies Inc. now owns 2,413,512 shares of the company's stock valued at $204,304,000 after purchasing an additional 35,391 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Axos Financial by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company's stock valued at $28,010,000 after purchasing an additional 50,902 shares during the last quarter. Finally, Argent Capital Management LLC raised its holdings in Axos Financial by 36.7% during the third quarter. Argent Capital Management LLC now owns 53,690 shares of the company's stock worth $4,545,000 after purchasing an additional 14,415 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Stock Down 0.5%

AX opened at $85.52 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $101.92. The stock has a market capitalization of $4.85 billion, a P/E ratio of 10.84 and a beta of 1.26. The business has a 50 day simple moving average of $90.72 and a 200-day simple moving average of $86.85.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.18. The company had revenue of $385.09 million during the quarter, compared to the consensus estimate of $345.89 million. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.Axos Financial's quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Axos Financial from $107.50 to $112.00 and gave the company a "buy" rating in a report on Friday, January 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Axos Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Axos Financial from $100.00 to $110.00 and gave the company a "market perform" rating in a research note on Friday, January 30th. Jefferies Financial Group boosted their target price on Axos Financial from $110.00 to $115.00 and gave the company a "buy" rating in a report on Friday, January 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $110.00 price objective on shares of Axos Financial in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Axos Financial currently has a consensus rating of "Buy" and a consensus target price of $104.50.

Insider Buying and Selling

In other Axos Financial news, Director James John Court sold 11,163 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the transaction, the director directly owned 32,169 shares in the company, valued at approximately $3,249,390.69. This represents a 25.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory Garrabrants sold 43,294 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the completion of the transaction, the chief executive officer directly owned 1,418,751 shares of the company's stock, valued at approximately $140,598,224.10. This trade represents a 2.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,303 shares of company stock valued at $5,908,474. Corporate insiders own 4.85% of the company's stock.

About Axos Financial

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.

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