Bessemer Group Inc. Acquires 19,637 Shares of Axos Financial, Inc $AX

Bessemer Group Inc. raised its holdings in shares of Axos Financial, Inc (NYSE:AX) by 30.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 84,354 shares of the company’s stock after acquiring an additional 19,637 shares during the period. Bessemer Group Inc.’s holdings in Axos Financial were worth $7,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AX. State Street Corp increased its holdings in shares of Axos Financial by 0.5% in the fourth quarter. State Street Corp now owns 2,696,323 shares of the company’s stock worth $232,315,000 after buying an additional 13,669 shares during the period. Geode Capital Management LLC lifted its stake in shares of Axos Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock valued at $154,687,000 after acquiring an additional 62,269 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Axos Financial by 8.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock valued at $56,319,000 after acquiring an additional 58,774 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Axos Financial by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company’s stock valued at $62,171,000 after acquiring an additional 52,250 shares during the period. Finally, Northern Trust Corp grew its position in Axos Financial by 1.5% during the 3rd quarter. Northern Trust Corp now owns 689,760 shares of the company’s stock worth $58,388,000 after acquiring an additional 10,097 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AX shares. Weiss Ratings raised Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Zacks Research lowered Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Benchmark began coverage on shares of Axos Financial in a report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 target price on the stock. Finally, Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $110.33.

Insider Activity at Axos Financial

In other news, EVP Michael James Watson sold 1,653 shares of Axos Financial stock in a transaction that occurred 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 sale, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roque A. Santi sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the transaction, the director directly owned 7,646 shares in the company, valued at $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company’s stock.

Axos Financial Stock Performance

Axos Financial stock opened at $99.44 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $90.79 and a 200-day moving average of $91.28. The firm has a market cap of $5.66 billion, a P/E ratio of 12.08 and a beta of 1.23. Axos Financial, Inc has a 1-year low of $74.89 and a 1-year high of $102.18.

Axos Financial (NYSE:AX) last posted its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (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 business had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. During the same period in the previous year, the business earned $1.81 earnings per share. Sell-side analysts expect that Axos Financial, Inc will post 8.38 EPS for the current year.

Axos Financial Company 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.