Raymond James Trust N.A. lessened its holdings in American Express (NYSE:AXP) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,003 shares of the payment services company’s stock after selling 765 shares during the quarter. Raymond James Trust N.A.’s holdings in American Express were worth $2,781,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in American Express by 4.9% in the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in American Express by 10.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after purchasing an additional 554 shares during the period. Westpac Banking Corp grew its holdings in American Express by 2.2% in the third quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after purchasing an additional 5,252 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in American Express in the third quarter worth about $5,505,000. Finally, Shelton Capital Management purchased a new stake in American Express in the second quarter worth about $670,000. Institutional investors and hedge funds own 83.56% of the company’s stock.
American Express (NYSE AXP) opened at $92.01 on Tuesday. The firm has a market cap of $83,917.88, a P/E ratio of 31.73, a P/E/G ratio of 1.32 and a beta of 1.19. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11.
American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.07%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. equities analysts expect that American Express will post 7.15 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. American Express’s dividend payout ratio (DPR) is 48.28%.
In other American Express news, insider Ashwini Gupta sold 57,306 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total value of $5,446,362.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares in the company, valued at $114,651,800.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 331,610 shares of company stock worth $32,376,871. 0.67% of the stock is owned by insiders.
A number of equities research analysts have weighed in on AXP shares. Credit Suisse Group restated an “underperform” rating and issued a $84.00 price objective (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Wells Fargo & Co reiterated an “outperform” rating and issued a $115.00 target price (up previously from $105.00) on shares of American Express in a research note on Tuesday, January 9th. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Bank of America reiterated a “buy” rating and issued a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Finally, Barclays upped their target price on shares of American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the stock. American Express has a consensus rating of “Hold” and an average target price of $101.56.
American Express 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).
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