Concurrent Investment Advisors LLC Acquires 6,597 Shares of Axos Financial, Inc $AX

Concurrent Investment Advisors LLC increased its holdings in shares of Axos Financial, Inc (NYSE:AX) by 117.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,232 shares of the company’s stock after purchasing an additional 6,597 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Axos Financial were worth $1,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. raised its stake in shares of Axos Financial by 1.5% during the third quarter. American Century Companies Inc. now owns 2,413,512 shares of the company’s stock worth $204,304,000 after buying an additional 35,391 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Axos Financial by 8.6% during the second quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock worth $56,319,000 after buying an additional 58,774 shares during the last quarter. Northern Trust Corp raised its stake in shares of Axos Financial by 1.5% during the third quarter. Northern Trust Corp now owns 689,760 shares of the company’s stock worth $58,388,000 after buying an additional 10,097 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Axos Financial by 18.1% during the third quarter. Wellington Management Group LLP now owns 445,412 shares of the company’s stock worth $37,704,000 after buying an additional 68,346 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Axos Financial by 198.0% during the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock worth $35,060,000 after buying an additional 275,191 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Gregory Garrabrants sold 43,294 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total value of $4,290,435.40. Following the completion of the transaction, the chief executive officer owned 1,418,751 shares in the company, valued at $140,598,224.10. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James John Court sold 11,163 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the transaction, the director owned 32,169 shares of the company’s stock, valued at $3,249,390.69. The trade was a 25.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 59,303 shares of company stock worth $5,908,474 over the last quarter. 4.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AX has been the subject of several recent analyst reports. Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $110.00 to $100.00 in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods upped their target price 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 upped their target price on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Axos Financial has an average rating of “Moderate Buy” and an average price target of $109.40.

Axos Financial Stock Up 1.9%

Shares of NYSE:AX opened at $96.69 on Friday. Axos Financial, Inc has a 52 week low of $62.35 and a 52 week high of $101.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $5.48 billion, a PE ratio of 12.26 and a beta of 1.26. The company has a 50 day moving average price of $89.89 and a two-hundred day moving average price of $88.01.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.23). The company had revenue of $392.25 million during the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. During the same quarter last year, the company earned $1.81 EPS. Analysts forecast that Axos Financial, Inc will post 8.66 earnings per share for the current year.

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.