Boston Financial Mangement LLC lowered its position in shares of American Express Company (NYSE:AXP) by 12.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,866 shares of the payment services company’s stock after selling 4,288 shares during the quarter. Boston Financial Mangement LLC’s holdings in American Express were worth $2,611,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in AXP. BlackRock Inc. boosted its position in shares of American Express by 2,686.0% in the 1st quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock valued at $3,494,913,000 after purchasing an additional 42,592,136 shares during the period. Wellington Management Group LLP boosted its position in shares of American Express by 21.7% in 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 purchasing an additional 3,071,573 shares during the period. Veritas Asset Management LLP boosted its position in shares of American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after purchasing an additional 1,358,474 shares during the period. Renaissance Technologies LLC acquired a new position in shares of American Express in the 2nd quarter valued at $101,526,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock valued at $90,739,000 after purchasing an additional 1,077,033 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.
In other news, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the sale, the insider now directly owns 289,996 shares of the company’s stock, valued at approximately $27,465,521.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. Insiders have sold a total of 211,199 shares of company stock valued at $19,978,410 over the last ninety days. Company insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at $99.37 on Wednesday. American Express Company has a one year low of $73.11 and a one year high of $99.75. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $85,931.63, a PE ratio of 18.97, a PEG ratio of 1.65 and a beta of 1.22.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the business earned $1.24 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. equities research analysts anticipate that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is presently 26.97%.
AXP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley decreased their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Finally, Oppenheimer set a $99.00 price target on American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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