Investec Asset Management LTD reduced its stake in shares of American Express Company (NYSE:AXP) by 23.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,018 shares of the payment services company’s stock after selling 186,409 shares during the quarter. Investec Asset Management LTD owned about 0.07% of American Express worth $51,135,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Matthew Goff Investment Advisor LLC acquired a new stake in American Express during the 1st quarter worth $2,543,000. Bronfman E.L. Rothschild L.P. raised its stake in American Express by 10.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after acquiring an additional 554 shares in the last quarter. Vanguard Group Inc. raised its stake in American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after acquiring an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in American Express by 19.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after acquiring an additional 104,647 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in American Express during the 2nd quarter worth $215,000. Hedge funds and other institutional investors own 84.66% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at $93.52 on Friday. American Express Company has a fifty-two week low of $69.65 and a fifty-two week high of $96.90. The stock has a market cap of $81,174.98, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. 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 (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. equities research analysts expect that American Express Company will post 5.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s payout ratio is currently 26.97%.
In other news, insider Ashwini Gupta sold 90,658 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the transaction, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Peter Bush sold 10,230 shares of the business’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 transaction of $926,326.50. The disclosure for this sale can be found here. In the last three months, insiders sold 140,845 shares of company stock valued at $13,197,233. Company insiders own 0.67% of the company’s stock.
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AXP has been the topic of several research analyst reports. Morgan Stanley cut their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Credit Suisse Group restated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. BidaskClub lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Guggenheim restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. 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 company. The stock has a consensus rating of “Hold” and an average price target of $91.56.
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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