Lord Abbett & CO. LLC Sells 20,400 Shares of Axos Financial, Inc. (NYSE:AX)

Lord Abbett & CO. LLC reduced its stake in shares of Axos Financial, Inc. (NYSE:AX) by 5.6% in the third quarter, HoldingsChannel.com reports. The fund owned 344,560 shares of the company’s stock after selling 20,400 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Axos Financial were worth $17,759,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invesco Ltd. increased its position in shares of Axos Financial by 11.2% in the second quarter. Invesco Ltd. now owns 195,182 shares of the company’s stock valued at $9,055,000 after acquiring an additional 19,645 shares during the period. FMR LLC increased its position in shares of Axos Financial by 124.6% in the second quarter. FMR LLC now owns 966,606 shares of the company’s stock valued at $44,841,000 after acquiring an additional 536,225 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Axos Financial by 3.6% in the second quarter. Bridgeway Capital Management LLC now owns 273,210 shares of the company’s stock valued at $12,674,000 after acquiring an additional 9,600 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Axos Financial by 24.1% in the second quarter. Goldman Sachs Group Inc. now owns 75,402 shares of the company’s stock valued at $3,498,000 after acquiring an additional 14,664 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Axos Financial by 82.9% in the second quarter. First Trust Advisors LP now owns 113,360 shares of the company’s stock valued at $5,259,000 after acquiring an additional 51,369 shares during the period. Institutional investors own 76.92% of the company’s stock.

Shares of NYSE AX opened at $60.46 on Friday. The firm has a fifty day moving average price of $57.75 and a 200-day moving average price of $52.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $3.60 billion, a PE ratio of 16.38 and a beta of 1.51. Axos Financial, Inc. has a 1 year low of $38.32 and a 1 year high of $62.44.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Wednesday, October 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. Axos Financial had a net margin of 30.84% and a return on equity of 16.75%. The firm had revenue of $173.34 million during the quarter, compared to analysts’ expectations of $167.06 million. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts expect that Axos Financial, Inc. will post 3.94 EPS for the current year.

Several equities research analysts recently commented on the stock. Raymond James boosted their price objective on shares of Axos Financial from $55.00 to $60.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 1st. B. Riley upped their target price on shares of Axos Financial from $54.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, November 5th. Finally, Zacks Investment Research cut shares of Axos Financial from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Axos Financial has an average rating of “Buy” and a consensus target price of $57.50.

In other news, EVP Andrew J. Micheletti sold 25,318 shares of the firm’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $60.35, for a total value of $1,527,941.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew J. Micheletti sold 5,720 shares of the firm’s stock in a transaction dated Friday, December 3rd. The stock was sold at an average price of $56.87, for a total transaction of $325,296.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,038 shares of company stock valued at $1,972,998. 4.73% of the stock is owned by company insiders.

Axos Financial Company Profile

Axos Financial, Inc is a holding company, which engages in the provision of banking and financing services. It operates through the following segments: Banking Business and Securities Business. The Banking Business segment includes online banking, concierge banking, prepaid card services, and mortgage, vehicle, and unsecured lending through online and telephonic distribution channels.

See Also: Rule of 72

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Institutional Ownership by Quarter for Axos Financial (NYSE:AX)

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