Aureus Asset Management LLC acquired a new stake in American Express Company (NYSE:AXP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,100 shares of the payment services company’s stock, valued at approximately $280,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after acquiring an additional 731,428 shares during the last quarter. BlackRock Inc. grew its stake in shares of American Express by 1.1% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of American Express by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after acquiring an additional 103,546 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of American Express by 2.7% during the third quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after acquiring an additional 300,042 shares during the last quarter. Finally, Veritas Asset Management LLP grew its stake in shares of American Express by 7.1% during the third quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after acquiring an additional 735,952 shares during the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.
Shares of American Express Company (NYSE AXP) traded up $0.24 during mid-day trading on Friday, hitting $100.97. The stock had a trading volume of 3,231,489 shares, compared to its average volume of 3,200,000. 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 firm has a market cap of $87,640.00, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. American Express Company has a twelve month low of $75.39 and a twelve month high of $101.65.
American Express (NYSE:AXP) last announced its earnings results 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 business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. research analysts forecast that American Express Company will post 5.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid 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 payout ratio is 27.03%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday. Barclays set a $119.00 price target on American Express and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $103.00 target price on shares of American Express in a report on Monday, January 8th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $115.00 target price (up previously from $105.00) on shares of American Express in a report on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $98.96.
In related news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the company’s 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 ninety days, insiders have sold 442,869 shares of company stock valued at $42,823,869. Corporate insiders own 0.67% of the company’s stock.
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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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