American Express Company (AXP) Holdings Trimmed by Union Bankshares Corp

Union Bankshares Corp lowered its stake in shares of American Express Company (NYSE:AXP) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,072 shares of the payment services company’s stock after selling 1,646 shares during the period. American Express makes up approximately 1.5% of Union Bankshares Corp’s portfolio, making the stock its 25th biggest holding. Union Bankshares Corp’s holdings in American Express were worth $4,873,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express in the second quarter worth $115,000. Zions Bancorporation increased its position in shares of American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after acquiring an additional 1,205 shares in the last quarter. MV Capital Management Inc. increased its position in shares of American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares in the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares in the last quarter. 83.35% of the stock is currently owned by institutional investors.

American Express Company (NYSE:AXP) opened at $100.97 on Friday. The firm has a market cap of $87,433.27, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. 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 announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion during 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%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. sell-side analysts predict that American Express Company will post 5.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is currently 26.97%.

In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is owned by company insiders.

AXP has been the subject of several recent research reports. Buckingham Research initiated coverage on shares of American Express in a research report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective for the company. Credit Suisse Group reissued a “sell” rating and issued a $79.00 price objective on shares of American Express in a research report on Wednesday, October 4th. Bank of America reissued a “buy” rating and issued a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Wells Fargo & Co initiated coverage on shares of American Express in a research report on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, Compass Point lowered shares of American Express from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $98.96.

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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).

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

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