Hodges Capital Management Inc. trimmed its holdings in shares of American Express Company (NYSE:AXP) by 40.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,401 shares of the payment services company’s stock after selling 11,018 shares during the period. Hodges Capital Management Inc.’s holdings in American Express were worth $1,484,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Matthew Goff Investment Advisor LLC acquired a new position in American Express during the first quarter valued at approximately $2,543,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of American Express by 10.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after purchasing an additional 554 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of American Express by 1.5% during the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Shelton Capital Management acquired a new position in shares of American Express during the second quarter worth $670,000. Finally, Rothschild Asset Management Inc. lifted its position in shares of American Express by 19.5% during the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after purchasing an additional 104,647 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Express Company (NYSE:AXP) opened at $98.52 on Friday. The stock has a market cap of $85,475.90, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a twelve month low of $73.50 and a twelve month high of $99.75.
American Express (NYSE:AXP) last posted 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 firm had revenue of $8.44 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. equities analysts predict that American Express Company will post 5.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid 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 payout ratio is 26.97%.
In other American Express news, EVP Michael John O’neill sold 43,741 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $98.85, for a total transaction of $4,323,797.85. Following the completion of the sale, the executive vice president now owns 43,731 shares in the company, valued at $4,322,809.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction 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. In the last quarter, insiders have sold 343,870 shares of company stock valued at $33,094,717. 0.67% of the stock is owned by insiders.
A number of research firms have recently commented on AXP. ValuEngine cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Wednesday, November 1st. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price on the stock in a research report on Tuesday, October 24th. Jefferies Group boosted their target price on shares of American Express from $64.75 to $93.35 and gave the stock a “hold” rating in a research report on Friday, October 20th. Finally, Royal Bank of Canada boosted their target price on shares of American Express to $68.00 and gave the stock an “underperform” rating in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus 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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