Systematic Financial Management LP trimmed its position in American Express Company (NYSE:AXP) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,122 shares of the payment services company’s stock after selling 2,208 shares during the quarter. Systematic Financial Management LP’s holdings in American Express were worth $3,268,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in American Express by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after purchasing an additional 731,428 shares during the period. BlackRock Inc. grew its holdings in American Express by 1.1% in the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after purchasing an additional 508,030 shares during the period. First Eagle Investment Management LLC grew its holdings in American Express by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after purchasing an additional 103,546 shares during the period. Fisher Asset Management LLC grew its holdings in American Express by 2.7% in the third quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock valued at $1,044,577,000 after purchasing an additional 300,042 shares during the period. Finally, Veritas Asset Management LLP grew its holdings in American Express by 7.1% in the third quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after purchasing an additional 735,952 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In other American Express news, insider Douglas E. Buckminster sold 88,930 shares of American Express stock in a transaction on Monday, December 11th. The stock was sold at an average price of $98.87, for a total value of $8,792,509.10. Following the sale, the insider now owns 152,507 shares in the company, valued at $15,078,367.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the sale, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 in the last 90 days. Company insiders own 0.67% of the company’s stock.
American Express Company (AXP) opened at $100.73 on Friday. American Express Company has a 1 year low of $75.39 and a 1 year high of $101.65. The company has a market capitalization of $87,430.00, a P/E ratio of 19.45, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS 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 firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. analysts forecast that American Express Company will post 5.86 EPS for the current 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 given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. American Express’s dividend payout ratio is currently 27.03%.
Several analysts have commented on the company. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays set a $119.00 price objective on American Express and gave the company an “equal weight” rating in a report on Thursday. Bank of America raised their target price on American Express from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a research report on Thursday, October 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $98.00 target price on shares of American Express in a research report on Thursday, October 19th. 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 company’s stock. American Express has a consensus rating of “Hold” and a consensus price target of $98.96.
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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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