Employees Retirement System of Texas increased its position in American Express Company (NYSE:AXP) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,700 shares of the payment services company’s stock after purchasing an additional 6,100 shares during the quarter. Employees Retirement System of Texas’ holdings in American Express were worth $15,138,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of AXP. Vanguard Group Inc. raised its stake in 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 acquiring an additional 731,428 shares during the last quarter. BlackRock Inc. grew its position in shares of American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after acquiring an additional 508,030 shares during the period. State Street Corp grew its position in shares of American Express by 1.8% during the 1st quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock valued at $3,196,011,000 after acquiring an additional 731,315 shares during the period. Wellington Management Group LLP grew its position in shares of American Express by 21.7% during the 1st 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 acquiring an additional 3,071,573 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in American Express by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after buying an additional 103,546 shares during the last quarter. Institutional investors own 83.35% of the company’s stock.
In related news, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total value of $5,446,362.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Peter Bush sold 13,548 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $97.60, for a total value of $1,322,284.80. Following the sale, the insider now directly owns 90,052 shares of the company’s stock, valued at approximately $8,789,075.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,199 shares of company stock worth $20,484,750. Corporate insiders own 0.67% of the company’s stock.
American Express Company (NYSE AXP) traded up $0.12 during midday trading on Tuesday, reaching $98.71. 3,525,093 shares of the company’s stock were exchanged, compared to its average volume of 3,601,458. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $84,942.11, a PE ratio of 18.75, a PEG ratio of 1.63 and a beta of 1.22. American Express Company has a 1 year low of $72.08 and a 1 year high of $99.75.
American Express (NYSE:AXP) last released its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the company earned $1.24 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. analysts expect that American Express Company will post 5.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s dividend payout ratio (DPR) is 26.97%.
AXP has been the topic of several analyst reports. Bank of America reaffirmed a “buy” rating and set a $102.00 price target on shares of American Express in a research report on Monday, October 9th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Oppenheimer set a $99.00 price target on shares of American Express and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Morgan Stanley lowered their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $91.56.
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About American Express
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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