MML Investors Services LLC Takes $212,000 Position in Axos Financial, Inc. (NYSE:AX)

MML Investors Services LLC purchased a new position in shares of Axos Financial, Inc. (NYSE:AX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,373 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. raised its position in Axos Financial by 26.2% during the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after buying an additional 321,494 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Axos Financial by 34.0% during the third quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock worth $72,610,000 after acquiring an additional 292,952 shares during the period. Millennium Management LLC raised its holdings in Axos Financial by 107.9% during the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock worth $20,988,000 after purchasing an additional 190,584 shares in the last quarter. State Street Corp lifted its position in Axos Financial by 5.5% in the third quarter. State Street Corp now owns 3,178,708 shares of the company’s stock valued at $199,877,000 after purchasing an additional 164,997 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Axos Financial in the 2nd quarter valued at approximately $5,077,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axos Financial

In related news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Axos Financial Stock Performance

Shares of NYSE:AX opened at $72.61 on Friday. The firm has a market capitalization of $4.15 billion, a PE ratio of 8.79 and a beta of 1.42. Axos Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $88.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $76.02 and a two-hundred day moving average of $67.76.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The firm had revenue of $512.87 million during the quarter, compared to analysts’ expectations of $299.59 million. During the same period in the prior year, the company earned $1.41 EPS. As a group, research analysts forecast that Axos Financial, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

AX has been the subject of a number of analyst reports. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Needham & Company LLC increased their price objective on Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $74.00 to $91.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wedbush cut their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Axos Financial presently has an average rating of “Moderate Buy” and a consensus price target of $83.20.

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.