SG Americas Securities LLC Cuts Stake in Axos Financial, Inc $AX

Key Points

• SG Americas Securities LLC cut its Axos Financial stake by 32.6% in Q1, selling 12,520 shares and leaving it with 25,924 shares worth about $2.21 million.
• Several other institutional investors adjusted their positions as well, and hedge funds/institutions now own 83.79% of Axos Financial’s shares.
• Axos Financial reported Q1 EPS of $1.90, below analyst expectations of $2.13, even though revenue came in ahead of estimates; analysts currently rate the stock a Moderate Buy with a consensus price target of $109.40.

SG Americas Securities LLC lessened its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 32.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,924 shares of the company's stock after selling 12,520 shares during the period. SG Americas Securities LLC's holdings in Axos Financial were worth $2,206,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Royal Bank of Canada raised its stake in shares of Axos Financial by 0.9% in the first quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after acquiring an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Axos Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock worth $2,099,000 after purchasing an additional 1,429 shares during the period. United Services Automobile Association purchased a new stake in Axos Financial during the 1st quarter worth about $212,000. Cetera Investment Advisers raised its position in Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after purchasing an additional 141 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Axos Financial in the 2nd quarter valued at about $6,252,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Buying and Selling at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares of the company's stock, valued at $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.85% of the company's stock.

Axos Financial Price Performance

Shares of NYSE AX opened at $98.99 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. Axos Financial, Inc has a fifty-two week low of $74.89 and a fifty-two week high of $101.92. The firm has a market capitalization of $5.63 billion, a PE ratio of 12.03 and a beta of 1.22. The stock's 50-day simple moving average is $89.72 and its 200-day simple moving average is $90.39.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). The business had revenue of $392.25 million during the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period last year, the company earned $1.81 earnings per share. As a group, equities research analysts forecast that Axos Financial, Inc will post 8.38 EPS for the current fiscal year.

Analysts Set New Price Targets

AX has been the topic of a number of recent research reports. Needham & Company LLC restated a "buy" rating and set a $110.00 target price on shares of Axos Financial in a research note on Monday, March 16th. Zacks Research downgraded shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Raymond James Financial upgraded shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and lowered their price target for the stock from $110.00 to $100.00 in a report on Tuesday, April 7th. Finally, Weiss Ratings downgraded shares of Axos Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Axos Financial presently has an average rating of "Moderate Buy" and a consensus price target of $109.40.

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.

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