TCW Group Inc. Decreases Holdings in Axos Financial, Inc. (NYSE:AX)

TCW Group Inc. cut its holdings in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,400 shares of the company's stock after selling 52,700 shares during the quarter. TCW Group Inc. owned about 0.29% of Axos Financial worth $10,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Axos Financial in the third quarter valued at about $27,000. Hollencrest Capital Management acquired a new position in Axos Financial in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC boosted its holdings in Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company's stock valued at $41,000 after purchasing an additional 582 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $41,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Axos Financial during the 2nd quarter worth approximately $49,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction dated Friday, November 15th. The stock was 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 owns 46,209 shares in the company, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the business's 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 directly owns 1,340,377 shares of the company's stock, valued at approximately $109,763,472.53. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AX shares. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $74.00 to $91.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a report on Monday. Wedbush decreased their target price on shares of Axos Financial from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.20.

Axos Financial Stock Performance

Shares of AX stock traded down $0.58 during midday trading on Thursday, hitting $79.43. The company had a trading volume of 314,578 shares, compared to its average volume of 566,784. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 9.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The company's 50 day simple moving average is $73.92 and its 200 day simple moving average is $66.32. Axos Financial, Inc. has a 52-week low of $44.10 and a 52-week high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. The business had revenue of $512.87 million for 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 period in the previous year, the business posted $1.41 earnings per share. Research analysts anticipate that Axos Financial, Inc. will post 7.07 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.