PDT Partners LLC increased its stake in American Express Company (NYSE:AXP) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 289,198 shares of the payment services company’s stock after buying an additional 23,398 shares during the period. American Express accounts for about 1.0% of PDT Partners LLC’s holdings, making the stock its 13th largest holding. PDT Partners LLC’s holdings in American Express were worth $24,362,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Sandhill Capital Partners LLC lifted its holdings in shares of American Express by 3.3% during the 2nd quarter. Sandhill Capital Partners LLC now owns 6,330 shares of the payment services company’s stock valued at $533,000 after buying an additional 202 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of American Express during the 2nd quarter valued at $476,000. Stifel Financial Corp lifted its holdings in shares of American Express by 10.6% during the 2nd quarter. Stifel Financial Corp now owns 717,681 shares of the payment services company’s stock valued at $60,420,000 after buying an additional 68,515 shares during the period. Bayesian Capital Management LP bought a new position in shares of American Express during the 2nd quarter valued at $465,000. Finally, Kopp Investment Advisors LLC lifted its holdings in shares of American Express by 3.5% during the 2nd quarter. Kopp Investment Advisors LLC now owns 9,184 shares of the payment services company’s stock valued at $774,000 after buying an additional 314 shares during the period. Institutional investors own 83.35% of the company’s stock.
Shares of American Express Company (NYSE:AXP) traded up $0.73 during midday trading on Monday, reaching $98.59. 4,562,372 shares of the company’s stock traded hands, compared to its average volume of 3,601,786. 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 $85,650.00, a P/E ratio of 18.75, a P/E/G ratio of 1.63 and a beta of 1.22. American Express Company has a twelve month low of $71.99 and a twelve month high of $99.17.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. research analysts predict that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is currently 27.03%.
In other news, insider Susan Sobbott sold 6,000 shares of American Express 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Insiders have sold 217,199 shares of company stock valued at $20,484,750 in the last ninety days. Insiders own 0.67% of the company’s stock.
A number of brokerages recently commented on AXP. Bank of America raised their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the stock a “buy” rating in a report on Saturday, August 19th. Jefferies Group reaffirmed an “in-line” rating and issued a $93.00 target price (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Wednesday, November 1st. Finally, Wells Fargo & Company started coverage on American Express in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price target for the company. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $91.56.
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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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