Shelter Mutual Insurance Co trimmed its holdings in shares of American Express Company (NYSE:AXP) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,840 shares of the payment services company’s stock after selling 5,400 shares during the period. Shelter Mutual Insurance Co’s holdings in American Express were worth $5,232,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of AXP. MCF Advisors LLC raised its holdings in shares of American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new position in shares of American Express in the 2nd quarter worth approximately $115,000. MV Capital Management Inc. raised its holdings in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after buying an additional 49 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. 83.35% of the stock is currently owned by institutional investors.
Shares of American Express Company (NYSE AXP) traded down $0.47 during mid-day trading on Thursday, hitting $100.73. The company had a trading volume of 2,750,000 shares, compared to its average volume of 3,230,000. 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 $87,430.00, a PE ratio of 19.45, a P/E/G ratio of 1.49 and a beta of 1.22. American Express Company has a fifty-two week low of $75.39 and a fifty-two week high of $101.65.
American Express (NYSE:AXP) last issued 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. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities 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 given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.39%. American Express’s dividend payout ratio is currently 27.03%.
AXP has been the subject of a number of recent analyst reports. Buckingham Research started coverage on American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target for the company. Credit Suisse Group restated a “sell” rating and issued a $79.00 price target on shares of American Express in a research report on Wednesday, October 4th. Bank of America restated a “buy” rating and issued a $102.00 price target on shares of American Express in a research report on Monday, October 9th. Wells Fargo & Co began coverage on American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Compass Point lowered American Express from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus target price of $98.96.
In other news, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at $114,651,800.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 442,869 shares of company stock valued at $42,823,869. Company insiders own 0.67% of the company’s stock.
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American Express 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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