Raymond James Trust N.A. cut its position in shares of American Express Company (NYSE:AXP) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,768 shares of the payment services company’s stock after selling 643 shares during the period. Raymond James Trust N.A.’s holdings in American Express were worth $2,603,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its position in shares of American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new position in American Express during the 2nd quarter valued at approximately $115,000. SRS Capital Advisors Inc. increased its stake in American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. 83.35% of the stock is owned by hedge funds and other institutional investors.
In other American Express news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the sale, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,199 shares of company stock valued at $19,978,410. 0.67% of the stock is owned by company insiders.
A number of research analysts have issued reports on AXP shares. Morgan Stanley cut their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Credit Suisse Group restated a “sell” rating and set a $79.00 price target on shares of American Express in a research note on Wednesday, October 4th. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on shares of American Express in a report on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (NYSE AXP) opened at $98.21 on Thursday. The company has a market cap of $85,679.91, a PE ratio of 18.91, a PEG ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express Company has a 12-month low of $72.23 and a 12-month high of $99.75.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. sell-side analysts anticipate that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is currently 26.97%.
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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