CI Investments Inc. Has $7.23 Million Stock Position in Axos Financial, Inc $AX

CI Investments Inc. reduced its stake in shares of Axos Financial, Inc (NYSE:AX) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,017 shares of the company’s stock after selling 6,800 shares during the quarter. CI Investments Inc.’s holdings in Axos Financial were worth $7,234,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in Axos Financial by 0.5% in the fourth quarter. State Street Corp now owns 2,696,323 shares of the company’s stock valued at $232,315,000 after purchasing an additional 13,669 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Axos Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company’s stock worth $185,234,000 after buying an additional 7,509 shares in the last quarter. Geode Capital Management LLC grew its stake in Axos Financial by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock worth $154,687,000 after buying an additional 62,269 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock valued at $56,319,000 after buying an additional 58,774 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Axos Financial by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company’s stock valued at $62,171,000 after buying an additional 52,250 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AX. Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $110.00 to $100.00 in a research report on Tuesday, April 7th. Benchmark assumed coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They set a “buy” rating and a $115.00 price target on the stock. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $110.33.

Axos Financial Stock Performance

NYSE:AX opened at $95.31 on Friday. Axos Financial, Inc has a twelve month low of $74.89 and a twelve month high of $102.18. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $91.81 and its 200 day simple moving average is $91.57. The firm has a market capitalization of $5.42 billion, a PE ratio of 11.58 and a beta of 1.23.

Axos Financial (NYSE:AX) last issued 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). The business had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the previous year, the firm posted $1.81 EPS. On average, 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 company’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 transaction of $43,885.00. Following the completion of the transaction, the director directly owned 7,646 shares in the company, valued at $671,089.42. This represents a 6.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.85% of the company’s stock.

Axos Financial 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.