Investors Research Corp purchased a new stake in American Express (NYSE:AXP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,088 shares of the payment services company’s stock, valued at approximately $207,000.
Several other institutional investors have also bought and sold shares of the stock. Beach Investment Management LLC. acquired a new position in shares of American Express in the second quarter worth $678,000. Capital Wealth Planning LLC acquired a new position in American Express in the second quarter valued at $15,941,000. Peregrine Asset Advisers Inc. purchased a new stake in American Express during the second quarter valued at about $4,276,000. Citizens Financial Group Inc RI grew its position in American Express by 1.2% during the second quarter. Citizens Financial Group Inc RI now owns 11,054 shares of the payment services company’s stock valued at $931,000 after acquiring an additional 129 shares during the period. Finally, Stanley Capital Management LLC grew its position in American Express by 42.3% during the second quarter. Stanley Capital Management LLC now owns 59,930 shares of the payment services company’s stock valued at $5,049,000 after acquiring an additional 17,800 shares during the period. Hedge funds and other institutional investors own 84.13% of the company’s stock.
In related news, insider James Peter Bush sold 13,356 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.65, for a total value of $1,317,569.40. Following the transaction, the insider now owns 100,790 shares in the company, valued at approximately $9,942,933.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the chief executive officer now owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,585 shares of company stock worth $11,973,047. 0.67% of the stock is owned by insiders.
AXP has been the subject of several analyst reports. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $115.00 target price (up previously from $105.00) on shares of American Express in a research report on Tuesday, January 9th. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays upped their price objective on American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Bank of America set a $128.00 price target on American Express and gave the stock a “buy” rating in a research report on Monday, December 18th. Finally, JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective for the company. in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $103.26.
American Express (NYSE:AXP) traded down $0.84 on Wednesday, reaching $94.53. 3,013,765 shares of the company traded hands, compared to its average volume of 4,126,805. The company has a market cap of $81,960.00, a PE ratio of 15.97, a P/E/G ratio of 1.33 and a beta of 1.16. American Express has a 1-year low of $75.51 and a 1-year high of $102.39. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.06.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.00%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. equities research analysts predict that American Express will post 7.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. American Express’s payout ratio is 23.65%.
American Express Company 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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