Lord Abbett & CO. LLC Has $8.45 Million Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Lord Abbett & CO. LLC lowered its stake in shares of Axos Financial, Inc. (NYSE:AX) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,388 shares of the company’s stock after selling 23,152 shares during the period. Lord Abbett & CO. LLC owned about 0.24% of Axos Financial worth $8,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. World Investment Advisors LLC bought a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $221,000. Sanctuary Advisors LLC raised its position in Axos Financial by 98.8% during the third quarter. Sanctuary Advisors LLC now owns 20,631 shares of the company’s stock valued at $1,297,000 after acquiring an additional 10,252 shares in the last quarter. Virtu Financial LLC acquired a new stake in Axos Financial in the third quarter valued at approximately $277,000. Geode Capital Management LLC grew its position in Axos Financial by 6.8% in the third quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock worth $90,861,000 after acquiring an additional 91,797 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Axos Financial by 32.6% during the 3rd quarter. Barclays PLC now owns 142,715 shares of the company’s stock worth $8,974,000 after purchasing an additional 35,087 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Stock Down 0.5 %

Axos Financial stock opened at $79.20 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial, Inc. has a fifty-two week low of $44.10 and a fifty-two week high of $88.46. The firm has a fifty day moving average price of $74.64 and a two-hundred day moving average price of $66.83. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 9.59 and a beta of 1.42.

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

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. This represents a 8.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction on 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 sale, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Axos Financial 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.