Rockland Trust Co. Acquires 700 Shares of American Express (NYSE:AXP)

Rockland Trust Co. raised its holdings in shares of American Express (NYSE:AXP) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,134 shares of the payment services company’s stock after acquiring an additional 700 shares during the period. Rockland Trust Co.’s holdings in American Express were worth $803,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in shares of American Express by 6.9% in the 1st quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after buying an additional 1,690,676 shares during the period. Fisher Asset Management LLC boosted its stake in American Express by 3.5% in the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock worth $1,401,376,000 after purchasing an additional 381,084 shares during the period. Magellan Asset Management Ltd boosted its stake in American Express by 212,845.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after purchasing an additional 9,575,925 shares during the period. Nuveen Asset Management LLC boosted its stake in American Express by 1,759.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after purchasing an additional 6,587,148 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in American Express by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,711,576 shares of the payment services company’s stock worth $624,275,000 after purchasing an additional 92,548 shares during the period. Institutional investors own 83.86% of the company’s stock.

Shares of NYSE:AXP opened at $116.40 on Friday. The company’s 50-day moving average price is $117.86 and its two-hundred day moving average price is $119.40. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.84 and a quick ratio of 1.84. American Express has a one year low of $89.05 and a one year high of $129.34. The stock has a market capitalization of $94.52 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.82 billion. During the same period in the previous year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that American Express will post 8.13 earnings per share for the current fiscal year.

The firm also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio (DPR) is presently 23.47%.

A number of equities analysts recently weighed in on AXP shares. Deutsche Bank started coverage on shares of American Express in a research note on Monday, July 8th. They issued a “buy” rating and a $142.00 target price for the company. Royal Bank of Canada upped their target price on shares of American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $122.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday. BMO Capital Markets upped their target price on shares of American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. Finally, Bank of America started coverage on shares of American Express in a research note on Wednesday, June 19th. They issued a “buy” rating and a $145.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $124.15.

In other news, CFO Jeffrey C. Campbell sold 7,045 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $124.91, for a total value of $879,990.95. Following the sale, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at approximately $7,447,134.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares in the company, valued at $23,619,732.97. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock worth $4,618,653 over the last three months. Insiders own 0.21% of the company’s stock.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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

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