Los Angeles Capital Management & Equity Research Inc. cut its holdings in shares of American Express Company (NYSE:AXP) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 585,463 shares of the payment services company’s stock after selling 4,619 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of American Express worth $52,961,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of AXP. MCF Advisors LLC lifted its position in American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares during the period. Capital Analysts LLC purchased a new position in American Express during the second quarter valued at $115,000. MV Capital Management Inc. lifted its position in American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after buying an additional 49 shares during the period. Finally, Westside Investment Management Inc. lifted its position in American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares during the period. 83.35% of the stock is currently owned by hedge funds and other institutional investors.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Insiders have sold a total of 442,869 shares of company stock worth $42,823,869 in the last 90 days. 0.67% of the stock is currently owned by insiders.
American Express Company (AXP) traded up $0.24 during mid-day trading on Friday, reaching $100.97. The company’s stock had a trading volume of 3,204,200 shares, compared to its average volume of 3,200,000. The company 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 1-year low of $75.39 and a 1-year high of $101.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.
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, topping 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 business 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 firm earned $1.24 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts predict that American Express Company will post 5.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.39%. American Express’s payout ratio is presently 27.03%.
Several equities analysts have commented on the company. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Friday. Barclays set a $119.00 price target on American Express and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and issued a $103.00 price target on shares of American Express in a research report on Monday, January 8th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $115.00 target price (up previously from $105.00) on shares of American Express in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $98.96.
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American Express 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).
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