Neville Rodie & Shaw Inc. lessened its holdings in American Express (NYSE:AXP) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,040 shares of the payment services company’s stock after selling 5,540 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in American Express were worth $7,671,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Destination Wealth Management raised its position in American Express by 165.4% in the 2nd quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after purchasing an additional 660 shares during the period. Tuttle Tactical Management purchased a new position in shares of American Express in the second quarter valued at about $105,000. Lenox Wealth Advisors LLC increased its position in shares of American Express by 1,173.8% in the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 986 shares during the period. Kiley Juergens Wealth Management LLC purchased a new position in shares of American Express in the second quarter valued at about $148,000. Finally, Guidant Wealth Advisors increased its position in shares of American Express by 280.7% in the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after acquiring an additional 595 shares during the period. Institutional investors own 82.85% of the company’s stock.
A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday. Stephens set a $97.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Friday, June 29th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of American Express in a research report on Monday, July 16th. BMO Capital Markets boosted their price target on shares of American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 19th. Finally, Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and boosted their price target for the company from $111.00 to $112.00 in a research report on Friday, June 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $109.98.
In other news, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were purchased at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott Murcray bought 350,000 shares of the company’s stock in a transaction dated Monday, September 3rd. The stock was purchased at an average price of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. Insiders have sold 47,448 shares of company stock worth $4,942,168 in the last three months. 0.20% of the stock is currently owned by insiders.
NYSE:AXP traded down $0.24 during mid-day trading on Tuesday, hitting $106.75. 22,553 shares of the company’s stock were exchanged, compared to its average volume of 3,523,184. American Express has a one year low of $87.54 and a one year high of $111.77. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $91.69 billion, a P/E ratio of 18.14, a PEG ratio of 1.47 and a beta of 1.16.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 18th. The payment services company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.83 by $0.01. American Express had a net margin of 9.23% and a return on equity of 30.08%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.05 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. American Express’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that American Express will post 7.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.56 annualized dividend and a yield of 1.46%. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is presently 26.58%.
American Express declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 28th that permits the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization permits the payment services company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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