Institutional & Family Asset Management LLC increased its stake in American Express (NYSE:AXP) by 58.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,439 shares of the payment services company’s stock after acquiring an additional 2,376 shares during the period. Institutional & Family Asset Management LLC’s holdings in American Express were worth $582,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Financial Group raised its position in shares of American Express by 8.6% in the 2nd quarter. Beacon Financial Group now owns 15,757 shares of the payment services company’s stock worth $1,318,000 after acquiring an additional 1,245 shares in the last quarter. First Command Bank boosted its stake in American Express by 4.7% during the 2nd quarter. First Command Bank now owns 2,849 shares of the payment services company’s stock valued at $240,000 after purchasing an additional 127 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in American Express by 7.8% during the 2nd quarter. BKD Wealth Advisors LLC now owns 22,770 shares of the payment services company’s stock valued at $1,918,000 after purchasing an additional 1,657 shares during the last quarter. Country Club Trust Company n.a. boosted its stake in American Express by 12.1% during the 2nd quarter. Country Club Trust Company n.a. now owns 7,433 shares of the payment services company’s stock valued at $626,000 after purchasing an additional 800 shares during the last quarter. Finally, City Holding Co. boosted its stake in American Express by 2.7% during the 2nd quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock valued at $132,000 after purchasing an additional 41 shares during the last quarter. 83.57% of the stock is owned by institutional investors.
AXP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $116.00 target price on shares of American Express in a research note on Friday, December 22nd. Bank of America set a $128.00 price target on American Express and gave the stock a “buy” rating in a research note on Monday, December 18th. Deutsche Bank initiated coverage on American Express in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 price target on the stock. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday, January 12th. Finally, Atlantic Securities raised American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price on the stock in a report on Tuesday, October 24th. 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 company has an average rating of “Hold” and a consensus price target of $101.56.
In related news, insider Susan Sobbott sold 5,500 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction that occurred on 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 transaction, 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. Insiders have sold 318,254 shares of company stock valued at $31,059,302 in the last ninety days. Insiders own 0.67% of the company’s stock.
Shares of American Express (AXP) opened at $96.68 on Friday. 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 12 month low of $75.51 and a 12 month high of $102.39. The firm has a market cap of $83,920.00, a P/E ratio of 32.33, a PEG ratio of 1.37 and a beta of 1.19.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating 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 firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. sell-side analysts expect that American Express will post 7.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, January 4th. American Express’s dividend 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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