Gofen & Glossberg LLC IL reduced its stake in shares of American Express (NYSE:AXP) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 440,402 shares of the payment services company’s stock after selling 12,113 shares during the quarter. American Express accounts for approximately 1.5% of Gofen & Glossberg LLC IL’s holdings, making the stock its 17th biggest position. Gofen & Glossberg LLC IL owned 0.05% of American Express worth $39,839,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares during the last quarter. Capital Analysts LLC acquired a new position in American Express during the 2nd quarter valued at $115,000. Zions Bancorporation raised its stake in American Express by 912.9% during the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after purchasing an additional 1,205 shares during the last quarter. MV Capital Management Inc. raised its stake in American Express by 3.5% during the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after purchasing an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in 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 valued at $129,000 after buying an additional 8 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
In other American Express news, insider James Peter Bush sold 12,789 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the sale, the insider now owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,254 shares of company stock worth $31,059,302. Insiders own 0.67% of the company’s stock.
American Express (AXP) traded down $3.33 on Friday, hitting $96.68. 4,660,000 shares of the stock traded hands, compared to its average volume of 3,460,000. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11. American Express has a fifty-two week low of $75.51 and a fifty-two week high of $102.39. The company has a market cap of $83,920.00, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ 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 prior year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. sell-side analysts predict that American Express will post 7.15 EPS for the current fiscal year.
The business also recently disclosed 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is currently 46.82%.
AXP has been the topic of several 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 price target on the stock. in a report on Friday, January 12th. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a report 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 price target on the stock in a report on Thursday, January 11th. Finally, Oppenheimer set a $99.00 price target on shares of American Express and gave the company a “buy” rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. American Express presently has an average rating of “Hold” and an average target price of $101.56.
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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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