ProVise Management Group LLC increased its holdings in American Express Company (NYSE:AXP) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,733 shares of the payment services company’s stock after purchasing an additional 3,401 shares during the period. American Express makes up 1.0% of ProVise Management Group LLC’s investment portfolio, making the stock its 27th biggest holding. ProVise Management Group LLC’s holdings in American Express were worth $6,464,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of AXP. MCF Advisors LLC raised its position in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after buying an additional 138 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after buying an additional 410 shares during the last quarter. Finally, MV Capital Management Inc. raised its position in shares of American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.
Several research analysts recently issued reports on the stock. Bank of America Corporation increased their price target on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Credit Suisse Group reissued a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed an “in-line” rating and set a $93.00 price objective (up from $85.00) on shares of American Express in a research note on Thursday, October 19th. BidaskClub raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $91.04.
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In other American Express news, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. In the last three months, insiders sold 69,341 shares of company stock valued at $5,959,848. 0.67% of the stock is owned by insiders.
Shares of American Express Company (NYSE:AXP) opened at 95.69 on Friday. The company’s 50 day moving average is $89.73 and its 200 day moving average is $83.92. The company has a market cap of $84.59 billion, a P/E ratio of 19.62 and a beta of 1.21. American Express Company has a one year low of $65.03 and a one year high of $95.73.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. American Express’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that American Express Company will post $5.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. American Express’s payout ratio is 26.97%.
American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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