American Century Companies Inc. Acquires 276,450 Shares of Axos Financial, Inc (NYSE:AX)

American Century Companies Inc. lifted its holdings in shares of Axos Financial, Inc (NYSE:AX) by 14.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,151,229 shares of the company’s stock after purchasing an additional 276,450 shares during the period. American Century Companies Inc. owned about 3.82% of Axos Financial worth $138,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in Axos Financial by 94.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company’s stock valued at $517,000 after buying an additional 3,901 shares during the period. NewEdge Advisors LLC boosted its position in Axos Financial by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company’s stock valued at $63,000 after buying an additional 850 shares during the period. GAMMA Investing LLC boosted its position in Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company’s stock valued at $118,000 after buying an additional 516 shares during the period. Envestnet Asset Management Inc. boosted its position in Axos Financial by 16.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company’s stock valued at $3,252,000 after buying an additional 6,957 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Axos Financial during the 1st quarter valued at $750,000. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president directly owned 67,460 shares of the company’s stock, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.07% of the company’s stock.

Analyst Ratings Changes

AX has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $90.00 price target for the company. Needham & Company LLC increased their price target on shares of Axos Financial from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. DA Davidson increased their price target on shares of Axos Financial from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Axos Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Axos Financial has an average rating of “Moderate Buy” and an average target price of $90.86.

Axos Financial Trading Down 1.3%

NYSE:AX opened at $87.87 on Friday. The company has a 50-day moving average price of $81.16 and a 200-day moving average price of $71.34. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $89.49. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 11.78 and a beta of 1.32.

Axos Financial (NYSE:AX) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The firm had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $311.73 million. During the same period last year, the company posted $1.83 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial declared that its Board of Directors has initiated a share repurchase plan on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally 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.