Cullinan Associates Inc. cut its position in shares of American Express Company (NYSE:AXP) by 24.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,127 shares of the payment services company’s stock after selling 22,100 shares during the quarter. Cullinan Associates Inc.’s holdings in American Express were worth $6,666,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in 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 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% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after buying an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in 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 valued at $1,376,719,000 after buying an additional 103,546 shares in the last quarter. Fisher Asset Management LLC lifted its stake in 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 valued at $1,044,577,000 after buying an additional 300,042 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its stake in 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 valued at $998,602,000 after buying an additional 735,952 shares in the last quarter. 83.36% of the stock is owned by institutional investors.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 442,869 shares of company stock worth $42,823,869. Corporate insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE:AXP) traded up $0.42 on Wednesday, reaching $100.76. 4,469,669 shares of the company traded hands, compared to its average volume of 3,110,000. The company has a market capitalization of $87,460.00, a price-to-earnings ratio of 19.45, a PEG ratio of 1.44 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 Company has a 52-week low of $75.39 and a 52-week high of $102.39.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The firm had revenue of $8.44 billion for 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 company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. research analysts expect that American Express Company will post 5.85 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend 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%.
A number of research firms have commented on AXP. Sandler O’Neill reaffirmed a “buy” rating on shares of American Express in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research note on Friday, January 12th. Barclays set a $119.00 price objective on shares of American Express and gave the company an “equal weight” rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, January 11th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $115.00 price target (up from $105.00) on shares of American Express in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus 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).
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