Parametric Portfolio Associates LLC Acquires 154,228 Shares of American Express Company (AXP)

Parametric Portfolio Associates LLC grew its holdings in shares of American Express Company (NYSE:AXP) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,155,226 shares of the payment services company’s stock after purchasing an additional 154,228 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.25% of American Express worth $194,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in American Express by 4.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in American Express by 10.8% during the 2nd 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 during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in American Express during the 3rd quarter worth $5,505,000. Westpac Banking Corp boosted its position in shares of American Express by 2.2% during the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock valued at $22,044,000 after acquiring an additional 5,252 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in shares of American Express during the 2nd quarter valued at about $670,000. 83.35% of the stock is currently owned by institutional investors.

Shares of American Express Company (NYSE:AXP) opened at $100.73 on Friday. The stock has a market cap 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. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.

American Express (NYSE:AXP) last issued its quarterly earnings data 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 analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. American Express’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. equities analysts predict that American Express Company will post 5.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a $0.35 dividend. 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 (DPR) is currently 27.03%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays set a $119.00 price target on shares of American Express and gave the company an “equal weight” rating in a research report on Thursday. BMO Capital Markets reissued a “hold” rating and set a $103.00 price target on shares of American Express in a research report on Monday. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 price target (up previously from $105.00) on shares of American Express in a research report on Tuesday. Finally, Stephens set a $97.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus price target of $98.96.

In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is owned by insiders.

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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).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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