Legal & General Group Plc Invests $12.43 Million in Axos Financial, Inc $AX

Legal & General Group Plc purchased a new stake in Axos Financial, Inc (NYSE:AX) in the second quarter, according to its most recent filing with the SEC. The fund purchased 127,673 shares of the company’s stock, valued at approximately $12,434,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in Axos Financial in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Axos Financial during the fourth quarter valued at $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Axos Financial during the third quarter worth $29,000. State of Wyoming acquired a new stake in shares of Axos Financial during the first quarter worth $30,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after buying an additional 333 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AX has been the subject of several research reports. DA Davidson set a $121.00 price target on shares of Axos Financial in a report on Friday, July 31st. Benchmark increased their price objective on shares of Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Finally, Needham & Company LLC upped their target price on Axos Financial from $110.00 to $128.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Axos Financial Price Performance

NYSE AX opened at $96.64 on Tuesday. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 11.41 and a beta of 1.22. The company has a 50-day moving average price of $98.26 and a two-hundred day moving average price of $92.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.16 by $0.37. The company had revenue of $379.77 million for the quarter, compared to analyst estimates of $375.54 million. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. During the same quarter last year, the business earned $1.94 earnings per share. Analysts forecast that Axos Financial, Inc will post 9.59 EPS for the current year.

Axos Financial 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.