Founders Capital Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 77,400 shares of the payment services company’s stock after acquiring an additional 478 shares during the period. American Express comprises about 2.7% of Founders Capital Management LLC’s portfolio, making the stock its 13th largest holding. Founders Capital Management LLC’s holdings in American Express were worth $10,947,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Clearview Wealth Advisors LLC purchased a new stake in American Express during the fourth quarter valued at about $27,000. Hexavest Inc. purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Accel Wealth Management purchased a new stake in shares of American Express during the fourth quarter worth about $31,000. Finally, Annapolis Financial Services LLC purchased a new stake in shares of American Express during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
AXP has been the subject of a number of analyst reports. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 target price for the company. in a report on Tuesday, February 16th. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Thursday, January 28th. Credit Suisse Group dropped their target price on shares of American Express from $120.00 to $115.00 and set an “underperform” rating for the company in a report on Wednesday, January 27th. JPMorgan Chase & Co. upgraded shares of American Express from an “underweight” rating to an “overweight” rating and set a $148.00 target price for the company in a report on Tuesday, January 19th. Finally, Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 target price for the company. in a report on Monday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $122.38.
American Express (NYSE:AXP) last issued its quarterly earnings results on Monday, January 25th. The payment services company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.50. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $9.32 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. The company’s revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.03 EPS. Research analysts forecast that American Express will post 4.85 earnings per share for the current year.
The firm also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Friday, April 2nd will be paid a dividend of $0.43 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Wednesday, March 31st. American Express’s dividend payout ratio is presently 20.98%.
In other news, insider Douglas E. Buckminster sold 32,833 shares of the business’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total value of $4,796,244.64. Following the sale, the insider now directly owns 111,247 shares in the company, valued at approximately $16,250,961.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anre D. Williams sold 59,352 shares of American Express stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the transaction, the insider now directly owns 85,522 shares of the company’s stock, valued at $12,475,949.36. The disclosure for this sale can be found here. Company 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 worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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