Vanguard Group Inc. Sells 31,265 Shares of Axos Financial, Inc $AX

Key Points

• Vanguard Group Inc. sold 31,265 shares of Axos Financial, trimming its position by 0.5% to 5,897,415 shares and retaining a 10.41% stake valued at about $508.1 million.
• Axos reported $1.90 EPS for the quarter, missing estimates of $2.13 by $0.23 while beating revenue expectations with $392.25 million versus $372.51 million; analysts currently rate the stock a "Moderate Buy" with an average price target of $109.40.
• Company insiders sold a total of 59,303 shares over the last three months (about $5.9 million), including CEO Gregory Garrabrants' sale of 43,294 shares, and insiders now own 4.85% of the stock.

Vanguard Group Inc. lowered its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,897,415 shares of the company's stock after selling 31,265 shares during the quarter. Vanguard Group Inc. owned 10.41% of Axos Financial worth $508,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Horizon Investment Services LLC increased its holdings in shares of Axos Financial by 297.1% in the third quarter. Horizon Investment Services LLC now owns 14,586 shares of the company's stock worth $1,235,000 after purchasing an additional 10,913 shares during the period. American Century Companies Inc. increased its holdings in shares of Axos Financial by 1.5% in the third quarter. American Century Companies Inc. now owns 2,413,512 shares of the company's stock worth $204,304,000 after purchasing an additional 35,391 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Axos Financial by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company's stock worth $28,010,000 after purchasing an additional 50,902 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Axos Financial by 281.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,419 shares of the company's stock worth $3,386,000 after purchasing an additional 29,833 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Axos Financial by 1,408.9% in the third quarter. SG Americas Securities LLC now owns 22,935 shares of the company's stock worth $1,941,000 after purchasing an additional 21,415 shares during the period. Institutional investors own 83.79% of the company's stock.

Axos Financial Stock Down 0.1%

AX opened at $87.29 on Tuesday. The stock has a market cap of $4.95 billion, a PE ratio of 10.61 and a beta of 1.30. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a 52 week low of $66.26 and a 52 week high of $101.92. The business's fifty day simple moving average is $89.89 and its 200 day simple moving average is $88.08.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. The firm had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. During the same period in the prior year, the company earned $1.81 EPS. As a group, research analysts expect that Axos Financial, Inc will post 8.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Gregory Garrabrants sold 43,294 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the transaction, the executive vice president directly owned 37,936 shares in the company, valued at $3,839,502.56. This trade represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 59,303 shares of company stock valued at $5,908,474. 4.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AX has been the topic of several research analyst reports. DA Davidson upped their price target on shares of Axos Financial from $107.50 to $112.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Keefe, Bruyette & Woods upped their price objective on shares of Axos Financial from $100.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Needham & Company LLC restated a "buy" rating and issued a $110.00 price objective on shares of Axos Financial in a research report on Monday, March 16th. Finally, Jefferies Financial Group upped their price objective on shares of Axos Financial from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. One 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.com, Axos Financial currently has an average rating of "Moderate Buy" and an average 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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