Smead Capital Management Inc. trimmed its position in shares of American Express Company (NYSE:AXP) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,318,429 shares of the payment services company’s stock after selling 17,854 shares during the quarter. American Express accounts for approximately 5.7% of Smead Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Smead Capital Management Inc. owned about 0.15% of American Express worth $119,265,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC boosted its holdings in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after acquiring an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in American Express by 30.4% during 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 acquiring an additional 300 shares during the last quarter. Capital Analysts LLC purchased a new position in American Express during the 2nd quarter worth $115,000. MV Capital Management Inc. boosted its holdings in American Express by 3.5% during the 2nd 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 during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in American Express by 0.5% during the 2nd 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 during the last quarter. 83.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was 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 is accessible through this hyperlink. 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 value of $2,873,385.01. Following the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 442,869 shares of company stock worth $42,823,869. Company insiders own 0.67% of the company’s stock.
Shares of American Express Company (AXP) traded up $0.24 on Friday, hitting $100.97. The stock had a trading volume of 3,204,200 shares, compared to its average volume of 3,200,000. American Express Company has a 12-month low of $75.39 and a 12-month high of $101.65. The company has a market capitalization of $87,640.00, a PE ratio of 19.49, a PEG ratio of 1.45 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 results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $8.31 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. equities analysts expect that American Express Company will post 5.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is presently 27.03%.
A number of research firms have recently commented on AXP. Buckingham Research began coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price on the stock. Credit Suisse Group reiterated a “sell” rating and set a $79.00 target price on shares of American Express in a research note on Wednesday, October 4th. Bank of America reiterated a “buy” rating and set a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Wells Fargo & Co began coverage on American Express in a research note on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, Compass Point cut American Express from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. They noted that the move was a valuation call. Two equities 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. American Express has an average rating of “Hold” and a consensus target price 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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