Acadian Asset Management LLC Increases Holdings in American Express Company (AXP)

Acadian Asset Management LLC boosted its holdings in shares of American Express Company (NYSE:AXP) by 359.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,271 shares of the payment services company’s stock after acquiring an additional 156,729 shares during the quarter. Acadian Asset Management LLC’s holdings in American Express were worth $19,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Westside Investment Management Inc. lifted its holdings in shares of 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 valued at $129,000 after buying an additional 8 shares during the last quarter. Dearborn Partners LLC lifted its holdings in shares of American Express by 0.6% during the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock valued at $241,000 after buying an additional 18 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of American Express by 0.4% during the 2nd quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock valued at $475,000 after buying an additional 25 shares during the last quarter. Sigma Investment Counselors Inc. lifted its holdings in shares of American Express by 1.2% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 3,490 shares of the payment services company’s stock valued at $294,000 after buying an additional 40 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of American Express by 1.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock valued at $241,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Shares of American Express Company (AXP) opened at $98.03 on Monday. American Express Company has a fifty-two week low of $75.39 and a fifty-two week high of $102.39. The firm has a market capitalization of $85,090.00, a P/E ratio of 32.79, a PEG ratio of 1.37 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 25.12% and a net margin of 8.08%. American Express’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. research analysts expect that American Express Company will post 7.26 earnings per share 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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is 46.82%.

AXP has been the subject of several research reports. Stephens set a $97.00 price target on American Express and gave the company a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research note on Friday, January 12th. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price objective (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research note on Thursday, January 11th. Finally, Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $100.80.

In related news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction on 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 sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is owned by insiders.

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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).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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