Pictet Asset Management Holding SA Has $777,000 Stock Position in Axos Financial, Inc $AX

Pictet Asset Management Holding SA lessened its position in Axos Financial, Inc (NYSE:AX) by 42.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,130 shares of the company’s stock after selling 6,721 shares during the period. Pictet Asset Management Holding SA’s holdings in Axos Financial were worth $777,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Axos Financial by 198.0% during the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock valued at $35,060,000 after buying an additional 275,191 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Axos Financial by 56.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company’s stock worth $31,973,000 after acquiring an additional 133,529 shares in the last quarter. UBS Group AG raised its holdings in shares of Axos Financial by 65.7% in the 3rd quarter. UBS Group AG now owns 267,312 shares of the company’s stock worth $22,628,000 after acquiring an additional 106,003 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Axos Financial by 712.9% in the 4th quarter. Cerity Partners LLC now owns 112,014 shares of the company’s stock worth $9,651,000 after acquiring an additional 98,235 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Axos Financial by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 528,300 shares of the company’s stock valued at $45,518,000 after acquiring an additional 82,888 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AX shares. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of Axos Financial in a research note on Monday, March 16th. Benchmark started coverage on Axos Financial in a research note on Wednesday. They issued a “buy” rating for the company. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Zacks Research cut Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Raymond James Financial upgraded Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $110.00 to $100.00 in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.40.

Axos Financial Trading Down 3.1%

Shares of AX stock opened at $95.44 on Thursday. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week 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 has a 50-day simple moving average of $89.84 and a two-hundred day simple moving average of $90.79. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 11.60 and a beta of 1.23.

Axos Financial (NYSE:AX) last posted its earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.The firm had revenue of $392.25 million for the quarter, compared to the consensus estimate of $372.51 million. During the same period in the prior year, the business earned $1.81 EPS. Research analysts anticipate that Axos Financial, Inc will post 8.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roque A. Santi sold 500 shares of the 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 completion of the sale, the director directly owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael James Watson sold 1,653 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company’s stock.

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.