Peregrine Asset Advisers Inc. cut its holdings in shares of American Express Company (NYSE:AXP) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,928 shares of the payment services company’s stock after selling 5,833 shares during the period. American Express makes up 2.1% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 21st biggest holding. Peregrine Asset Advisers Inc.’s holdings in American Express were worth $4,064,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of American Express by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after buying an additional 731,428 shares in the last quarter. BlackRock Inc. lifted its stake in American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in American Express by 0.6% in the 2nd 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 purchasing an additional 103,546 shares in the last quarter. Fisher Asset Management LLC lifted its stake in American Express by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after purchasing an additional 300,042 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its stake in American Express by 7.1% in the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after purchasing an additional 735,952 shares in the last quarter. 83.35% of the stock is owned by institutional investors.
Shares of American Express Company (NYSE:AXP) opened at $100.97 on Friday. American Express Company has a 12-month low of $75.39 and a 12-month 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. The company has a market cap of $87,640.00, a PE ratio of 19.49, a PEG ratio of 1.45 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the company posted $1.24 EPS. American Express’s revenue was up 8.5% on a year-over-year basis. research analysts predict that American Express Company will post 5.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a $0.35 dividend. The ex-dividend date 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 presently 27.03%.
AXP has been the topic of several recent analyst reports. Stephens set a $97.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Friday. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Thursday. Finally, Oppenheimer set a $99.00 price target on shares of American Express and gave the stock a “buy” rating in a report on Thursday, October 19th. Two investment 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. The company presently has a consensus rating of “Hold” and a consensus price target of $98.96.
In other news, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction that occurred on 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 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. Insiders sold 442,869 shares of company stock valued at $42,823,869 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.
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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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