Redwood Investments LLC Boosts Stock Position in Axos Financial, Inc. (NYSE:AX)

Redwood Investments LLC raised its holdings in Axos Financial, Inc. (NYSE:AX) by 192.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,712 shares of the company’s stock after acquiring an additional 59,667 shares during the quarter. Axos Financial makes up 1.7% of Redwood Investments LLC’s holdings, making the stock its 16th largest holding. Redwood Investments LLC owned about 0.16% of Axos Financial worth $6,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AX. Barclays PLC increased its position in shares of Axos Financial by 32.6% during the third quarter. Barclays PLC now owns 142,715 shares of the company’s stock worth $8,974,000 after acquiring an additional 35,087 shares during the period. Principal Financial Group Inc. increased its holdings in Axos Financial by 27.9% during the 3rd quarter. Principal Financial Group Inc. now owns 320,717 shares of the company’s stock worth $20,167,000 after purchasing an additional 70,017 shares during the period. Assenagon Asset Management S.A. purchased a new position in Axos Financial during the 4th quarter worth $9,849,000. Argent Capital Management LLC raised its position in Axos Financial by 15.1% during the 4th quarter. Argent Capital Management LLC now owns 39,181 shares of the company’s stock valued at $2,737,000 after purchasing an additional 5,142 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Axos Financial in the 4th quarter worth $200,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Price Performance

AX opened at $72.75 on Thursday. The firm has a market capitalization of $4.10 billion, a PE ratio of 9.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50-day moving average is $63.28 and its two-hundred day moving average is $69.73. Axos Financial, Inc. has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last announced its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The company had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. During the same period last year, the firm earned $1.91 earnings per share. Research analysts anticipate that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its board has initiated a stock repurchase plan on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Sara Wardell-Smith acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $64.73 per share, with a total value of $194,190.00. Following the transaction, the director now directly owns 10,250 shares of the company’s stock, valued at $663,482.50. This trade represents a 41.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Grinberg sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the sale, the director now directly owns 113,295 shares in the company, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $88.00 price target on shares of Axos Financial in a research note on Thursday, May 1st. Raymond James reiterated an “outperform” rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. DA Davidson cut their target price on shares of Axos Financial from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price target on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler dropped their price objective on shares of Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Axos Financial Company 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.