American Express (AXP) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in shares of American Express (NYSE:AXP) by 51.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 106,377 shares of the payment services company’s stock after buying an additional 36,268 shares during the quarter. Martingale Asset Management L P’s holdings in American Express were worth $10,565,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in shares of American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares during the period. Dearborn Partners LLC boosted its stake in shares of American Express by 0.6% during the second quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after buying an additional 18 shares during the period. Advisory Services Network LLC boosted its stake in shares of American Express by 0.4% during the second quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after buying an additional 25 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of American Express by 1.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock worth $241,000 after buying an additional 41 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of American Express by 0.6% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 16,064 shares of the payment services company’s stock worth $1,353,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 82.38% of the company’s stock.

Several equities research analysts have recently weighed in on AXP shares. Stephens set a $97.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research note on Thursday, January 11th. Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $126.00 target price on shares of American Express in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $102.68.

In other 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 document filed with the SEC, which can be accessed through this link. Also, insider James Peter Bush sold 13,356 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the sale, the insider now owns 100,790 shares in the company, valued at $9,942,933.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,110 shares of company stock valued at $31,858,001. 0.67% of the stock is currently owned by corporate insiders.

American Express (NYSE AXP) opened at $98.80 on Friday. American Express has a 1-year low of $75.51 and a 1-year high of $102.39. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.93 and a quick ratio of 1.90. The stock has a market cap of $84,995.57, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.19.

American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.00%. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts anticipate that American Express will post 7.13 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were issued a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. American Express’s dividend payout ratio (DPR) is presently 48.28%.

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

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