Montag A & Associates Inc. lowered its position in shares of American Express (NYSE:AXP) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,689 shares of the payment services company’s stock after selling 8,600 shares during the period. Montag A & Associates Inc.’s holdings in American Express were worth $4,340,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP grew its position in American Express by 41.4% in the 3rd quarter. First Trust Advisors LP now owns 297,845 shares of the payment services company’s stock worth $35,229,000 after purchasing an additional 87,134 shares during the period. James Hambro & Partners bought a new stake in shares of American Express during the 3rd quarter valued at $467,000. Appleton Partners Inc. MA grew its position in shares of American Express by 9.3% during the 3rd quarter. Appleton Partners Inc. MA now owns 3,377 shares of the payment services company’s stock valued at $399,000 after acquiring an additional 287 shares during the period. Bartlett & Co. LLC grew its position in shares of American Express by 81.6% during the 3rd quarter. Bartlett & Co. LLC now owns 107,666 shares of the payment services company’s stock valued at $12,735,000 after acquiring an additional 48,393 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of American Express by 10.7% during the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 31,000 shares of the payment services company’s stock valued at $3,667,000 after acquiring an additional 3,000 shares during the period. 85.43% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their price objective on shares of American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Oppenheimer set a $126.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Monday, October 21st. William Blair reissued a “buy” rating on shares of American Express in a research report on Friday, October 18th. Finally, ValuEngine downgraded shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.96.
In other American Express news, Director Theodore Leonsis sold 8,420 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total value of $980,424.80. Following the sale, the director now owns 11,580 shares in the company, valued at approximately $1,348,375.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Denise Pickett sold 2,400 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $118.39, for a total transaction of $284,136.00. Following the completion of the sale, the insider now owns 9,788 shares in the company, valued at approximately $1,158,801.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,820 shares of company stock worth $3,039,511. Corporate insiders own 0.21% of the company’s stock.
Shares of AXP traded up $0.19 during trading hours on Friday, reaching $121.47. 1,984,615 shares of the stock traded hands, compared to its average volume of 3,349,832. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.54. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The company’s 50-day moving average price is $117.26 and its two-hundred day moving average price is $120.40. The company has a market cap of $97.19 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 EPS. On average, research analysts forecast that American Express will post 8.16 EPS for the current year.
The business also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 3rd. American Express’s payout ratio is currently 23.47%.
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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