American International Group Inc. cut its holdings in American Express Company (NYSE:AXP) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,729 shares of the payment services company’s stock after selling 24,518 shares during the quarter. American International Group Inc.’s holdings in American Express were worth $26,390,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its position in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares in the last quarter. Capital Analysts LLC bought a new stake in American Express in the second quarter worth about $115,000. MV Capital Management Inc. raised its position in American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares in the last quarter. Westside Investment Management Inc. raised its position in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares in the last quarter. Finally, WFG Advisors LP raised its position in American Express by 38.8% in the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock worth $132,000 after acquiring an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In related news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. In the last three months, insiders sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is currently owned by company insiders.
Shares of American Express Company (NYSE AXP) opened at $100.97 on Friday. The company has a market capitalization of $87,640.00, a P/E ratio of 19.49, a P/E/G ratio of 1.45 and a beta of 1.22. American Express Company has a 12 month low of $75.39 and a 12 month high of $101.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ 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 return on equity of 22.73% and a net margin of 14.48%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. research analysts expect that American Express Company will post 5.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. American Express’s payout ratio is 27.03%.
Several equities research analysts have commented on AXP shares. Stephens set a $97.00 price target on shares of American Express and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a research note on Thursday, October 19th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Thursday. Finally, Oppenheimer set a $99.00 price target on American Express and gave the stock a “buy” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $98.96.
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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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