TCW Group Inc. Decreases Stock Position in Axos Financial, Inc (NYSE:AX)

Key Points

• TCW Group Inc. reduced its stake in Axos Financial by 25.1% in the first quarter, bringing its total ownership to 92,020 shares worth approximately $5.94 million.
• Several institutional investors increased their holdings in Axos Financial, with NewEdge Advisors LLC raising its stake by 1,700% during the fourth quarter.
• Analyst ratings for Axos Financial are mixed, with some firms raising their price targets while others, like Wall Street Zen, downgraded the stock from a "hold" to a "sell" rating.

TCW Group Inc. lessened its stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 25.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,020 shares of the company's stock after selling 30,780 shares during the period. TCW Group Inc. owned 0.16% of Axos Financial worth $5,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in Axos Financial during the fourth quarter valued at $35,000. NewEdge Advisors LLC increased its holdings in shares of Axos Financial by 1,700.0% in 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 raised its position in shares of Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after buying an additional 516 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Axos Financial by 24.1% in the 4th quarter. Covestor Ltd now owns 2,274 shares of the company's stock valued at $158,000 after acquiring an additional 442 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its position in Axos Financial by 37.2% in the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AX. Needham & Company LLC upped their price objective on Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Piper Sandler decreased their price target on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group started coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target for the company. Raymond James Financial boosted their price objective on shares of Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded shares of Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.86.

Axos Financial Stock Performance

Shares of Axos Financial stock opened at $84.60 on Monday. The stock's fifty day moving average is $76.42 and its two-hundred day moving average is $69.72. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $4.77 billion, a PE ratio of 11.53 and a beta of 1.29. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. The company had revenue of $432.72 million for the quarter, compared to analysts' expectations of $305.04 million. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. During the same quarter in the prior year, the firm earned $1.91 earnings per share. As a group, analysts expect that Axos Financial, Inc will post 7.22 earnings per share for the current year.

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

Insider Activity at Axos Financial

In related news, 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 transaction, the director directly owned 113,295 shares of the company's stock, valued at $7,714,256.55. This trade represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.

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