Principal Financial Group Inc. Acquires 70,017 Shares of Axos Financial, Inc. (NYSE:AX)

Principal Financial Group Inc. grew its holdings in Axos Financial, Inc. (NYSE:AX - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 320,717 shares of the company's stock after buying an additional 70,017 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Axos Financial worth $20,167,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in shares of Axos Financial during the second quarter valued at about $25,000. EntryPoint Capital LLC grew its holdings in shares of Axos Financial by 816.7% during the 1st quarter. EntryPoint Capital LLC now owns 495 shares of the company's stock worth $27,000 after acquiring an additional 441 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Axos Financial in the 3rd quarter worth approximately $27,000. Farther Finance Advisors LLC raised its position in shares of Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company's stock worth $41,000 after acquiring an additional 582 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Axos Financial by 122.5% in the 1st quarter. Advisors Asset Management Inc. now owns 901 shares of the company's stock valued at $49,000 after purchasing an additional 496 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Insider Activity at Axos Financial

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. The trade was a 8.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Andrew J. Micheletti sold 5,197 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the transaction, the executive vice president now owns 424,149 shares of the company's stock, valued at approximately $26,776,526.37. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of the business'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 transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AX shares. Wedbush decreased their price objective on Axos Financial from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, September 24th. Needham & Company LLC lifted their price target on shares of Axos Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. StockNews.com cut shares of Axos Financial from a "hold" rating to a "sell" rating in a report on Wednesday. Piper Sandler lifted their target price on shares of Axos Financial from $68.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, Raymond James upped their price target on Axos Financial from $67.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $79.80.

Axos Financial Stock Down 1.5 %

Shares of NYSE:AX traded down $1.22 during trading on Thursday, reaching $80.58. 535,523 shares of the stock traded hands, compared to its average volume of 583,209. The stock has a market cap of $4.60 billion, a P/E ratio of 9.90 and a beta of 1.38. Axos Financial, Inc. has a 52-week low of $36.93 and a 52-week high of $85.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day moving average of $66.38 and a two-hundred day moving average of $63.06.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The company had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, sell-side analysts expect that Axos Financial, Inc. will post 7.02 earnings per share for the current fiscal year.

About Axos Financial

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.