Franklin Resources Inc. Sells 30,894 Shares of Axos Financial, Inc. (NYSE:AX)

Franklin Resources Inc. reduced its holdings in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,333 shares of the company's stock after selling 30,894 shares during the period. Franklin Resources Inc. owned 0.25% of Axos Financial worth $9,295,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. World Investment Advisors LLC bought a new position in shares of Axos Financial during the 3rd quarter worth about $221,000. Sanctuary Advisors LLC boosted its holdings in Axos Financial by 98.8% in the third quarter. Sanctuary Advisors LLC now owns 20,631 shares of the company's stock worth $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 increased its holdings in shares of Axos Financial by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company's stock valued at $90,861,000 after acquiring an additional 91,797 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Axos Financial by 32.6% during the third 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 period. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Up 0.9 %

Shares of AX traded up $0.61 during trading hours on Friday, reaching $71.73. 1,642,380 shares of the stock traded hands, compared to its average volume of 569,139. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 8.68 and a beta of 1.42. The stock has a fifty day simple moving average of $75.57 and a 200 day simple moving average of $67.30. 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 (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 EPS 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 analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter last year, the business posted $1.41 EPS. On average, equities analysts forecast that Axos Financial, Inc. will post 7.07 EPS for the current year.

Insider Activity

In related news, Director Edward James Ratinoff sold 4,002 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value 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 approximately $3,669,456.69. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction that occurred 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 owns 1,340,377 shares of the company's stock, valued at $109,763,472.53. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AX shares. Keefe, Bruyette & Woods boosted their price target on shares of Axos Financial from $74.00 to $91.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a report on Monday, December 9th. Wedbush lowered their target price on shares of Axos Financial from $80.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Finally, Needham & Company LLC lifted their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.