The Manufacturers Life Insurance Company Buys Shares of 29,440 Axos Financial, Inc $AX

Key Points

• The Manufacturers Life Insurance Company bought 29,440 Axos Financial shares valued at approximately $2.87 million, while institutional investors and hedge funds collectively own 83.79% of the stock.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS versus the $2.16 consensus estimate and $379.77 million in revenue. Net margin was 22.39% and return on equity was 16.96%.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $115.67, compared with the stock’s reported price of $94.59.

The Manufacturers Life Insurance Company purchased a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,440 shares of the company's stock, valued at approximately $2,867,000. The Manufacturers Life Insurance Company owned about 0.05% of Axos Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. bought a new stake in shares of Axos Financial in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in Axos Financial in the fourth quarter valued at $28,000. Brown Brothers Harriman & Co. acquired a new stake in Axos Financial in the 3rd quarter valued at $29,000. State of Wyoming acquired a new position in shares of Axos Financial during the 1st quarter worth about $30,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock worth $34,000 after buying an additional 333 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director owned 7,146 shares of the company's stock, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.85% of the stock is owned by insiders.

Axos Financial Stock Performance

NYSE AX opened at $94.59 on Wednesday. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $105.74. The stock has a market cap of $5.37 billion, a PE ratio of 11.17 and a beta of 1.22. The firm has a 50-day moving average of $98.32 and a 200-day moving average of $92.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.37. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. The firm had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. During the same period last year, the business posted $1.94 earnings per share. On average, sell-side analysts anticipate that Axos Financial, Inc will post 9.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AX shares. DA Davidson set a $121.00 target price on Axos Financial in a research report on Friday, July 31st. Keefe, Bruyette & Woods boosted their price target on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Needham & Company LLC upped their price objective on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Weiss Ratings raised Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Finally, Benchmark raised their target price on shares of Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Axos Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.67.

Axos Financial Company 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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