GM Advisory Group Inc. lifted its holdings in shares of American Express Company (NYSE:AXP) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,029 shares of the payment services company’s stock after buying an additional 9,632 shares during the period. American Express comprises 2.2% of GM Advisory Group Inc.’s holdings, making the stock its 17th largest position. GM Advisory Group Inc.’s holdings in American Express were worth $7,079,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC lifted its stake in American Express by 73.3% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 153,036 shares of the payment services company’s stock valued at $12,107,000 after purchasing an additional 64,754 shares during the last quarter. Tiedemann Wealth Management LLC lifted its stake in American Express by 8.1% in the 1st quarter. Tiedemann Wealth Management LLC now owns 31,930 shares of the payment services company’s stock valued at $2,526,000 after purchasing an additional 2,400 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in American Express in the 1st quarter valued at about $2,118,000. Hosking Partners LLP lifted its stake in American Express by 9.8% in the 1st quarter. Hosking Partners LLP now owns 663,149 shares of the payment services company’s stock valued at $52,462,000 after purchasing an additional 59,146 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in American Express by 2.6% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock valued at $405,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 84.12% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $93.90 on Tuesday. The firm has a market cap of $81,175.00, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. American Express Company has a one year low of $70.63 and a one year high of $96.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The firm had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. sell-side analysts expect that American Express Company will post 5.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. American Express’s payout ratio is presently 26.97%.
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Several equities research analysts recently issued reports on AXP shares. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Morgan Stanley cut their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 target price on shares of American Express in a research note on Saturday, July 22nd. Credit Suisse Group reiterated an “underperform” rating and issued a $84.00 target price (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $100.00 target price (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $91.56.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total transaction of $518,870.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ashwini Gupta sold 90,658 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the sale, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,345 shares of company stock worth $13,716,103. Insiders own 0.67% of the company’s stock.
About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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