Sterling Capital Management LLC grew its holdings in American Express (NYSE:AXP) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,538 shares of the payment services company’s stock after purchasing an additional 1,270 shares during the period. Sterling Capital Management LLC’s holdings in American Express were worth $6,924,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. increased its holdings 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 worth $3,764,339,000 after buying an additional 508,030 shares during the last quarter. First Eagle Investment Management LLC increased its holdings 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 worth $1,376,719,000 after buying an additional 103,546 shares during the last quarter. Fisher Asset Management LLC increased its holdings 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 worth $1,044,577,000 after buying an additional 300,042 shares during the last quarter. Finally, Veritas Asset Management LLP increased its holdings 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 worth $998,602,000 after buying an additional 735,952 shares during the last quarter. Institutional investors own 83.57% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Guggenheim downgraded shares of American Express from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $98.03 to $102.00 in a report on Monday, January 22nd. Stephens set a $89.00 target price on shares of American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. TheStreet downgraded shares of American Express from a “b+” rating to a “c+” rating in a report on Thursday, January 18th. Jefferies Group restated an “in-line” rating and set a $93.00 target price (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Finally, Instinet assumed coverage on shares of American Express in a report on Wednesday, January 3rd. They set a “buy” rating and a $110.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the stock. American Express has an average rating of “Hold” and an average price target of $101.08.
In other news, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael John O’neill sold 43,741 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 43,731 shares of the company’s stock, valued at approximately $4,322,809.35. The disclosure for this sale can be found here. In the last three months, insiders sold 318,254 shares of company stock valued at $31,059,302. 0.67% of the stock is currently owned by company insiders.
American Express (NYSE AXP) traded up $0.60 during mid-day trading on Thursday, reaching $100.00. 2,947,115 shares of the company’s stock were exchanged, compared to its average volume of 3,470,000. 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 has a 1 year low of $75.51 and a 1 year high of $102.39. The company has a market capitalization of $86,800.00, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.07%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. research analysts expect that American Express will post 7.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. American Express’s payout ratio is presently 46.82%.
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About American Express
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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