Dodge & Cox Has $2.33 Billion Holdings in American Express Company (AXP)

Dodge & Cox decreased its stake in American Express Company (NYSE:AXP) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,714,370 shares of the payment services company’s stock after selling 327,735 shares during the quarter. American Express makes up 2.0% of Dodge & Cox’s portfolio, making the stock its 18th biggest holding. Dodge & Cox owned 3.14% of American Express worth $2,334,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of AXP. BlackRock Inc. grew its position in shares of American Express by 2,686.0% during the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after purchasing an additional 42,592,136 shares in the last quarter. Wellington Management Group LLP grew its position in shares of American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after purchasing an additional 3,071,573 shares in the last quarter. Veritas Asset Management LLP grew its position in shares of American Express by 15.2% during the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after purchasing an additional 1,358,474 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of American Express by 944,765.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after purchasing an additional 1,077,033 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its position in shares of American Express by 40.1% during the first quarter. OppenheimerFunds Inc. now owns 3,627,184 shares of the payment services company’s stock worth $286,946,000 after purchasing an additional 1,038,328 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.

Several research firms recently issued reports on AXP. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Bank of America Corporation increased their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $91.56.

American Express Company (NYSE AXP) opened at $93.76 on Wednesday. The company has a market capitalization of $81,504.84, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. American Express Company has a fifty-two week low of $70.77 and a fifty-two week high of $96.90. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. equities analysts predict that American Express Company will post 5.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a dividend of $0.35 per share. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio (DPR) is presently 26.97%.

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In other news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Insiders have sold a total of 146,345 shares of company stock worth $13,716,103 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

American Express Company Profile

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).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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