UBS Asset Management Americas Inc. lifted its stake in American Express (NYSE:AXP) by 59.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,305,396 shares of the payment services company’s stock after buying an additional 1,968,718 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in American Express were worth $526,879,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of AXP. Beach Investment Management LLC. acquired a new stake in American Express during the 2nd quarter valued at $678,000. Robeco Institutional Asset Management B.V. increased its holdings in American Express by 47.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 193,554 shares of the payment services company’s stock valued at $16,305,000 after purchasing an additional 62,043 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in American Express by 16.0% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,091 shares of the payment services company’s stock valued at $15,508,000 after purchasing an additional 25,436 shares in the last quarter. Windsor Capital Management LLC increased its holdings in American Express by 7.0% during the 2nd quarter. Windsor Capital Management LLC now owns 7,828 shares of the payment services company’s stock valued at $659,000 after purchasing an additional 512 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in American Express by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 17,213 shares of the payment services company’s stock valued at $1,450,000 after purchasing an additional 1,331 shares in the last quarter. 83.37% of the stock is owned by institutional investors and hedge funds.
American Express (NYSE AXP) opened at $96.79 on Friday. American Express has a 12-month low of $75.51 and a 12-month high of $102.39. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. The stock has a market capitalization of $84,013.33, a price-to-earnings ratio of 16.43, a PEG ratio of 1.32 and a beta of 1.19.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a return on equity of 26.07% and a net margin of 8.08%. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period last year, the company earned $0.91 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. research analysts anticipate that American Express will post 7.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were given a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. American Express’s dividend payout ratio is currently 48.28%.
A number of equities research analysts recently weighed in on AXP shares. Atlantic Securities raised American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target for the company in a report on Tuesday, October 24th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America set a $128.00 price target on American Express and gave the company a “buy” rating in a report on Monday, December 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $116.00 price target on shares of American Express in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $102.68.
In other news, insider James Peter Bush sold 13,356 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total value of $1,317,569.40. Following the transaction, the insider now directly owns 100,790 shares in the company, valued at approximately $9,942,933.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total value of $5,446,362.24. The disclosure for this sale can be found here. Insiders sold a total of 326,110 shares of company stock worth $31,858,001 over the last 90 days. 0.67% of the stock is owned by corporate insiders.
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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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