Skandinaviska Enskilda Banken AB publ lowered its position in shares of American Express (NYSE:AXP) by 6.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 126,910 shares of the payment services company’s stock after selling 9,339 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in American Express were worth $13,515,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AXP. FMR LLC lifted its holdings in American Express by 969.9% during the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock valued at $939,396,000 after purchasing an additional 8,689,714 shares in the last quarter. Renaissance Technologies LLC purchased a new position in American Express during the second quarter valued at approximately $127,567,000. Millennium Management LLC lifted its holdings in American Express by 84.3% during the second quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock valued at $228,251,000 after purchasing an additional 1,065,461 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in American Express by 380.8% during the second quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock valued at $18,049,000 after purchasing an additional 631,457 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in American Express by 1.4% during the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after purchasing an additional 626,323 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Marc D. Gordon sold 25,948 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares of the company’s stock, valued at $3,570,359.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the stock in a transaction dated Thursday, August 30th. The stock was bought at an average cost of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.
Several equities analysts have weighed in on AXP shares. Nomura lifted their price target on shares of American Express from $128.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 19th. UBS Group raised shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Oppenheimer set a $113.00 price target on shares of American Express and gave the company a “buy” rating in a report on Wednesday, July 18th. Wells Fargo & Co lifted their price target on shares of American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, October 1st. Finally, BMO Capital Markets lifted their price target on shares of American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $112.70.
AXP stock opened at $108.28 on Friday. American Express has a one year low of $87.54 and a one year high of $111.77. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $91.67 billion, a PE ratio of 18.45, a P/E/G ratio of 1.45 and a beta of 1.06.
American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. American Express had a net margin of 9.51% and a return on equity of 31.26%. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that American Express will post 7.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Friday, October 5th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, October 4th. This is an increase from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is 26.58%.
American Express Profile
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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