State of New Jersey Common Pension Fund D Sells 6,023 Shares of Axos Financial, Inc. (NYSE:AX)

State of New Jersey Common Pension Fund D lowered its stake in Axos Financial, Inc. (NYSE:AX) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,806 shares of the company’s stock after selling 6,023 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Axos Financial worth $1,811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AX. Kathleen S. Wright Associates Inc. bought a new position in Axos Financial during the third quarter valued at $27,000. Hollencrest Capital Management purchased a new position in shares of Axos Financial during the 2nd quarter worth about $25,000. EntryPoint Capital LLC grew its holdings in Axos Financial by 816.7% during the 1st quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 441 shares during the last quarter. Farther Finance Advisors LLC raised its position in Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after purchasing an additional 582 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Axos Financial in the second quarter worth about $49,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,199 shares of company stock worth $10,882,135. Corporate insiders own 5.07% of the company’s stock.

Axos Financial Price Performance

AX opened at $79.97 on Tuesday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 9.68 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial, Inc. has a 12-month low of $36.93 and a 12-month high of $85.54. The business’s fifty day simple moving average is $67.35 and its 200-day simple moving average is $63.69.

Axos Financial (NYSE:AX) last issued its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same period in the prior year, the business earned $1.41 EPS. On average, equities research analysts anticipate that Axos Financial, Inc. will post 7.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AX. Raymond James upped their target price on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Needham & Company LLC upped their price objective on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Axos Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Axos Financial currently has an average rating of “Hold” and a consensus price target of $79.80.

Axos Financial Company Profile

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.