Intech Investment Management LLC Reduces Stock Holdings in Axos Financial, Inc $AX

Intech Investment Management LLC lowered its position in Axos Financial, Inc (NYSE:AX) by 51.1% in the fourth quarter, HoldingsChannel reports. The firm owned 29,034 shares of the company’s stock after selling 30,283 shares during the period. Intech Investment Management LLC’s holdings in Axos Financial were worth $2,502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AX. Royal Bank of Canada lifted its position in 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 buying an additional 1,015 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Axos Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock valued at $2,099,000 after buying an additional 1,429 shares during the last quarter. United Services Automobile Association acquired a new position in Axos Financial in the first quarter valued at about $212,000. Cetera Investment Advisers lifted its position in Axos Financial by 1.8% in the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock valued at $623,000 after buying an additional 141 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Axos Financial in the second quarter valued at about $6,252,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Stock Up 1.8%

Shares of AX opened at $87.91 on Wednesday. The stock has a market capitalization of $5.00 billion, a PE ratio of 10.68 and a beta of 1.24. Axos Financial, Inc has a 1 year low of $69.08 and a 1 year high of $101.92. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. The company’s 50-day simple moving average is $89.03 and its 200-day simple moving average is $88.97.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the prior year, the company posted $1.81 EPS. Analysts forecast that Axos Financial, Inc will post 8.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael James Watson sold 1,653 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roque A. Santi sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total transaction of $43,885.00. Following the sale, the director owned 7,646 shares in the company, valued at $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AX has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 14th. Zacks Research cut shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 target price on shares of Axos Financial in a research report on Monday, March 16th. Finally, Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $110.00 to $100.00 in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.40.

About Axos Financial

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.