Janney Montgomery Scott LLC decreased its position in American Express (NYSE:AXP) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 142,817 shares of the payment services company’s stock after selling 6,670 shares during the period. Janney Montgomery Scott LLC’s holdings in American Express were worth $12,919,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Veritas Asset Management LLP lifted its stake in shares of American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after acquiring an additional 1,358,474 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of American Express in the 2nd quarter worth approximately $101,526,000. Canada Pension Plan Investment Board lifted its stake in shares of American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after acquiring an additional 1,077,033 shares during the period. Janus Henderson Group PLC lifted its stake in shares of American Express by 55.9% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock worth $242,003,000 after acquiring an additional 959,824 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of American Express by 11,602.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock worth $75,909,000 after acquiring an additional 893,400 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
A number of analysts have recently weighed in on the stock. Barclays set a $93.00 price target on shares of American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Bank of America increased their target price on shares of American Express from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Jefferies Group reissued an “in-line” rating and set a $93.00 target price (up from $85.00) 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 $111.00 target price for the company in a research note on Wednesday, January 3rd. Finally, Instinet began coverage on shares of American Express in a research note on Wednesday, January 3rd. They set a “buy” rating and a $110.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $101.08.
American Express (AXP) traded up $0.60 during mid-day trading on Thursday, hitting $100.00. 2,947,115 shares of the stock were exchanged, compared to its average volume of 3,470,000. American Express has a twelve month low of $75.51 and a twelve month high of $102.39. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. The firm has a market capitalization of $86,800.00, a price-to-earnings ratio of 33.44, a P/E/G ratio of 1.34 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.07%. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. equities research analysts predict that American Express will post 7.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.40%. American Express’s dividend payout ratio is currently 46.82%.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael John O’neill sold 43,741 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $98.85, for a total transaction of $4,323,797.85. Following the completion of the transaction, the executive vice president now owns 43,731 shares in the company, valued at approximately $4,322,809.35. The disclosure for this sale can be found here. Insiders have sold 318,254 shares of company stock worth $31,059,302 in the last 90 days. 0.67% of the stock is owned by company 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).
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