Sentry Investments Corp. reduced its position in shares of American Express Company (NYSE:AXP) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 646,200 shares of the payment services company’s stock after selling 19,200 shares during the quarter. Sentry Investments Corp. owned about 0.07% of American Express worth $54,436,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of AXP. MCF Advisors LLC grew its holdings in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of American Express by 30.4% in 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 acquiring an additional 300 shares in the last quarter. Capital Analysts LLC bought a new position in shares of American Express in the second quarter valued at approximately $115,000. SRS Capital Advisors Inc. grew its holdings in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares in the last quarter. 84.66% of the stock is owned by hedge funds and other institutional investors.
Shares of American Express Company (NYSE AXP) traded down $0.23 during mid-day trading on Friday, reaching $93.52. 2,714,300 shares of the company’s stock were exchanged, compared to its average volume of 3,629,731. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express Company has a twelve month low of $69.65 and a twelve month high of $96.90. The company has a market cap of $81,374.65, a P/E ratio of 17.96, a P/E/G ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. analysts expect that American Express Company will post 5.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. American Express’s dividend payout ratio (DPR) is currently 26.97%.
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AXP has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Bank of America Corporation reissued a “buy” rating and issued a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, BidaskClub cut American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $91.56.
In other American Express news, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,845 shares of company stock worth $13,197,233. Insiders own 0.67% of the company’s stock.
American Express 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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