Parametric Portfolio Associates LLC boosted its position in American Express (NYSE:AXP) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,155,226 shares of the payment services company’s stock after purchasing an additional 154,228 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.25% of American Express worth $194,962,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after purchasing an additional 731,428 shares in the last quarter. BlackRock Inc. boosted its position in shares of American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of American Express by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after purchasing an additional 103,546 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of American Express by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock valued at $1,044,577,000 after purchasing an additional 300,042 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in shares of American Express by 7.1% during the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after purchasing an additional 735,952 shares in the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.
Several research analysts have issued reports on the company. Guggenheim lowered American Express from a “buy” rating to a “neutral” rating and increased their price target for the stock from $98.03 to $102.00 in a report on Monday, January 22nd. Morgan Stanley increased their price target on American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday. Stephens set a $89.00 price target on American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. TheStreet downgraded American Express from a “b+” rating to a “c+” rating in a research report on Thursday, January 18th. Finally, Jefferies Group reissued an “in-line” rating and issued a $93.00 target price (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $101.56.
American Express (NYSE:AXP) traded down $3.32 during trading hours on Friday, hitting $96.68. The stock had a trading volume of 4,663,278 shares, compared to its average volume of 3,460,000. 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 stock has a market cap of $83,920.00, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.19. American Express has a 52-week low of $75.51 and a 52-week high of $102.39.
American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. American Express had a return on equity of 26.07% and a net margin of 8.08%. The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same quarter in the prior year, the business posted $0.91 EPS. American Express’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts anticipate that American Express will post 7.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 46.82%.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the firm’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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Peter Bush sold 12,789 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the completion of the sale, the insider now directly owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,254 shares of company stock valued at $31,059,302. 0.67% of the stock is owned by insiders.
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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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