Barr E S & Co. decreased its position in American Express Company (NYSE:AXP) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,396 shares of the payment services company’s stock after selling 13,532 shares during the quarter. American Express makes up approximately 2.7% of Barr E S & Co.’s portfolio, making the stock its 13th largest position. Barr E S & Co.’s holdings in American Express were worth $24,379,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after buying an additional 508,030 shares during the last quarter. State Street Corp boosted its holdings in shares of American Express by 1.8% in the 1st quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after buying an additional 731,315 shares during the last quarter. Wellington Management Group LLP lifted its holdings in American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after purchasing an additional 3,071,573 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in American Express by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after purchasing an additional 103,546 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Several equities research analysts have commented on the stock. Stephens set a $89.00 price objective on shares of American Express and gave the company a “hold” rating in a report on Thursday, October 19th. Buckingham Research assumed coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price objective on the stock. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $91.56.
In other American Express news, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders have sold 146,345 shares of company stock valued at $13,716,103 in the last three months. Insiders own 0.67% of the company’s stock.
American Express Company (NYSE AXP) opened at $93.69 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $81,210.00, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. American Express Company has a 52-week low of $70.77 and a 52-week high of $96.90.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. equities research analysts forecast that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.40 annualized dividend and a yield of 1.49%. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is currently 27.03%.
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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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