Handelsbanken Fonder AB increased its position in shares of American Express (NYSE:AXP) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,000 shares of the payment services company’s stock after acquiring an additional 30,000 shares during the period. Handelsbanken Fonder AB’s holdings in American Express were worth $21,848,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its holdings in 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 acquiring an additional 8 shares during the period. Advisory Services Network LLC grew its holdings in 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 acquiring an additional 25 shares during the period. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in 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 acquiring an additional 98 shares during the period. Cypress Capital Management LLC grew its holdings in American Express by 4.8% during the second quarter. Cypress Capital Management LLC now owns 3,099 shares of the payment services company’s stock worth $261,000 after acquiring an additional 141 shares during the period. Finally, National Asset Management Inc. grew its holdings in American Express by 8.2% during the second quarter. National Asset Management Inc. now owns 5,435 shares of the payment services company’s stock worth $459,000 after acquiring an additional 412 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
AXP has been the topic of a number of analyst reports. Barclays lifted their price target on American Express from $112.00 to $119.00 in a research note on Friday, January 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, January 11th. Instinet initiated coverage on American Express in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $110.00 price target on the stock. Deutsche Bank initiated coverage on American Express in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 price target on the stock. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $116.00 price target on shares of American Express in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $103.89.
Shares of American Express (NYSE AXP) opened at $92.02 on Friday. The stock has a market capitalization of $81,502.81, a PE ratio of 31.52, a PEG ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.93 and a current ratio of 1.93. American Express has a 1-year low of $75.51 and a 1-year high of $102.39.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. sell-side analysts anticipate that American Express will post 7.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.52%. American Express’s dividend payout ratio is 48.28%.
In other news, insider James Peter Bush sold 13,356 shares of American Express stock in a transaction dated Thursday, February 1st. The stock was 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 directly owns 100,790 shares in the company, valued at approximately $9,942,933.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.67% of the stock is owned by insiders.
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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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