SG Americas Securities LLC Purchases Shares of 11,630 Axos Financial, Inc (NYSE:AX)

SG Americas Securities LLC purchased a new stake in shares of Axos Financial, Inc (NYSE:AX) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,630 shares of the company’s stock, valued at approximately $750,000.

A number of other hedge funds have also added to or reduced their stakes in AX. Boston Partners acquired a new position in Axos Financial during the 4th quarter valued at about $29,918,000. Raymond James Financial Inc. acquired a new position in Axos Financial during the 4th quarter valued at about $16,464,000. American Century Companies Inc. boosted its stake in Axos Financial by 9.6% during the 4th quarter. American Century Companies Inc. now owns 1,874,779 shares of the company’s stock valued at $130,953,000 after purchasing an additional 163,952 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Axos Financial by 255.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company’s stock valued at $13,946,000 after purchasing an additional 143,474 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Axos Financial by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 410,590 shares of the company’s stock valued at $28,680,000 after purchasing an additional 128,932 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

AX has been the subject of several recent analyst reports. Piper Sandler reduced their target price on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. DA Davidson reduced their target price on Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Jefferies Financial Group started coverage on Axos Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $88.00 target price on shares of Axos Financial in a research note on Monday, June 9th. Finally, Wall Street Zen cut Axos Financial from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.71.

Insider Activity at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction 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 owns 113,295 shares in the company, valued at $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.07% of the stock is owned by company insiders.

Axos Financial Price Performance

Axos Financial stock opened at $71.82 on Friday. Axos Financial, Inc has a 12 month low of $53.17 and a 12 month high of $88.46. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $68.00 and its 200 day simple moving average is $68.40. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 9.78 and a beta of 1.29.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The business had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same quarter in the prior year, the business earned $1.91 earnings per share. Sell-side analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial announced that its board has initiated a stock repurchase program on Monday, May 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Axos Financial

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.