Hosking Partners LLP increased its position in shares of American Express (NYSE:AXP) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 666,449 shares of the payment services company’s stock after buying an additional 29,698 shares during the quarter. American Express comprises approximately 1.4% of Hosking Partners LLP’s portfolio, making the stock its 17th largest position. Hosking Partners LLP owned about 0.08% of American Express worth $62,166,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AXP. Certified Advisory Corp purchased a new stake in shares of American Express during the 4th quarter valued at approximately $101,000. Trustcore Financial Services LLC purchased a new stake in shares of American Express during the 4th quarter valued at approximately $128,000. Delpha Capital Management LLC purchased a new stake in shares of American Express during the 4th quarter valued at approximately $138,000. First Dallas Securities Inc. purchased a new stake in shares of American Express during the 4th quarter valued at approximately $139,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of American Express during the 4th quarter valued at approximately $139,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.
American Express opened at $102.70 on Wednesday, MarketBeat reports. The firm has a market capitalization of $87.79 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.13. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a 52 week low of $75.98 and a 52 week high of $103.24.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.15. The business had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. sell-side analysts anticipate that American Express will post 7.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.36%. American Express’s dividend payout ratio (DPR) is 23.85%.
Several analysts have recently commented on AXP shares. Morgan Stanley lifted their price target on shares of American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Nomura upgraded shares of American Express from a “neutral” rating to a “buy” rating and set a $108.00 target price for the company in a report on Monday, February 12th. Instinet lifted their target price on shares of American Express from $91.72 to $108.00 and gave the company a “buy” rating in a report on Monday, February 12th. Oppenheimer set a $117.00 target price on shares of American Express and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $107.45.
In related news, insider L Kevin Cox sold 33,777 shares of the business’s stock in a transaction on Thursday, April 19th. The shares were sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the completion of the transaction, the insider now owns 19,249 shares in the company, valued at $1,935,294.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total transaction of $882,450.00. Following the transaction, the chief financial officer now owns 79,978 shares of the company’s stock, valued at approximately $7,841,842.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,252 shares of company stock valued at $5,800,027. Insiders own 0.20% of the company’s stock.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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