Aureus Asset Management LLC purchased a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,100 shares of the payment services company’s stock, valued at approximately $280,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares in the last quarter. Capital Analysts LLC bought a new position in shares of American Express in the 2nd quarter worth about $115,000. MV Capital Management Inc. increased its stake in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares in the last quarter. Finally, City Holding Co. increased its stake in shares of American Express by 2.7% in the 2nd quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock worth $132,000 after acquiring an additional 41 shares in the last quarter. 83.45% of the stock is owned by institutional investors and hedge funds.
In other news, insider Ashwini Gupta sold 90,658 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the transaction, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders sold 408,912 shares of company stock valued at $39,645,521. 0.67% of the stock is owned by corporate insiders.
AXP has been the topic of a number of recent analyst reports. Stephens set a $97.00 price target on shares of American Express and gave the company a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Friday, January 12th. Credit Suisse Group reissued an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a research note 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 target price for the company 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 report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.08.
American Express (AXP) opened at $99.63 on Monday. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The stock has a market capitalization of $86,480.00, a P/E ratio of 33.32, a PEG ratio of 1.36 and a beta of 1.22. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37.
American Express (NYSE:AXP) last announced its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.04. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 10.2% on a year-over-year basis. analysts expect that American Express will post 7.16 earnings per share for the current fiscal year.
The company also recently disclosed 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 1.41%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is currently 46.82%.
COPYRIGHT VIOLATION WARNING: This news story was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/29/aureus-asset-management-llc-takes-280000-position-in-american-express-company-axp.html.
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).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.