Alps Advisors Inc. lowered its holdings in shares of American Express (NYSE:AXP) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,881 shares of the payment services company’s stock after selling 933 shares during the period. Alps Advisors Inc.’s holdings in American Express were worth $485,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Beach Investment Management LLC. bought a new position in American Express in the second quarter worth approximately $678,000. Cadence Capital Management LLC boosted its holdings in American Express by 0.3% in the second quarter. Cadence Capital Management LLC now owns 49,084 shares of the payment services company’s stock worth $4,135,000 after acquiring an additional 137 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in American Express by 5.3% in the second quarter. Tocqueville Asset Management L.P. now owns 52,479 shares of the payment services company’s stock worth $4,421,000 after acquiring an additional 2,644 shares in the last quarter. RiverPoint Capital Management LLC bought a new position in American Express in the second quarter worth approximately $204,000. Finally, One Capital Management LLC boosted its holdings in American Express by 4.7% in the second quarter. One Capital Management LLC now owns 28,603 shares of the payment services company’s stock worth $2,410,000 after acquiring an additional 1,291 shares in the last quarter. 83.37% of the stock is owned by institutional investors and hedge funds.
Shares of American Express (NYSE AXP) opened at $94.70 on Tuesday. The company has a market capitalization of $82,200.00, a price-to-earnings ratio of 31.67, a P/E/G ratio of 1.26 and a beta of 1.19. American Express has a fifty-two week low of $75.51 and a fifty-two week high of $102.39. 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 (NYSE:AXP) last issued its quarterly earnings results 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 business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. American Express’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. analysts anticipate that American Express will post 7.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.48%. American Express’s dividend payout ratio (DPR) is currently 46.82%.
In other American Express news, insider James Peter Bush sold 12,789 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value 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 $9,199,522.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total value of $5,446,362.24. The disclosure for this sale can be found here. Insiders have sold 326,110 shares of company stock worth $31,858,001 over the last quarter. 0.67% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on AXP. Nomura upgraded American Express from a “neutral” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Monday. Instinet increased their price target on American Express from $91.72 to $108.00 and gave the stock a “buy” rating in a report on Monday. Stephens set a $89.00 target price on American Express and gave the company a “hold” rating in a report on Thursday, October 19th. Morgan Stanley raised their target price on American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Finally, Jefferies Group restated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $102.68.
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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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