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

CI Investments Inc. trimmed its position in Axos Financial, Inc (NYSE:AX) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,017 shares of the company’s stock after selling 6,800 shares during the quarter. CI Investments Inc. owned approximately 0.15% of Axos Financial worth $7,234,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AX. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Axos Financial in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Axos Financial during the 4th quarter worth approximately $28,000. Brown Brothers Harriman & Co. acquired a new position in shares of Axos Financial during the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its stake in Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after acquiring an additional 333 shares during the period. Finally, Torren Management LLC bought a new stake in Axos Financial in the 4th quarter valued at $36,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AX has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Benchmark started coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price objective on the stock. Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Finally, Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $110.33.

Insider Transactions at Axos Financial

In related news, EVP Michael James Watson sold 1,653 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roque A. Santi sold 500 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 7,646 shares of the company’s stock, valued at $671,089.42. This represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is currently owned by company insiders.

Axos Financial Stock Performance

NYSE:AX opened at $95.31 on Friday. The stock has a 50 day simple moving average of $91.81 and a 200 day simple moving average of $91.57. The stock has a market cap of $5.42 billion, a P/E ratio of 11.58 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. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The firm had revenue of $392.25 million during the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period in the prior year, the company earned $1.81 earnings per share. Research analysts anticipate that Axos Financial, Inc will post 8.38 earnings per share 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.