Aries Wealth Management acquired a new stake in shares of American Express (NYSE:AXP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,412 shares of the payment services company’s stock, valued at approximately $334,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. 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 valued at $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. increased its stake in shares of American Express by 1.1% in the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of American Express by 0.6% in 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 purchasing an additional 103,546 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of American Express by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock worth $1,179,061,000 after purchasing an additional 325,140 shares in the last quarter. Finally, Veritas Asset Management LLP increased its stake in shares of American Express by 7.1% in 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 purchasing an additional 735,952 shares in the last quarter. 83.37% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on AXP shares. Bank of America set a $128.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Monday, December 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $116.00 price objective on shares of American Express in a research note on Friday, December 22nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research note on Friday, January 12th. Wells Fargo & Co restated an “outperform” rating and set a $115.00 target price (up previously from $105.00) on shares of American Express in a research report on Tuesday, January 9th. Finally, Deutsche Bank assumed coverage on shares of American Express in a research report on Tuesday, January 2nd. They set a “buy” rating and a $118.00 target price for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. American Express currently has an average rating of “Hold” and a consensus target price of $102.68.
American Express (NYSE AXP) traded down $0.12 during mid-day trading on Wednesday, reaching $94.46. 872,961 shares of the company’s stock traded hands, compared to its average volume of 4,390,000. American Express has a fifty-two week low of $75.51 and a fifty-two week high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $81,990.00, a price-to-earnings ratio of 31.59, a P/E/G ratio of 1.30 and a beta of 1.19.
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, 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 business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same quarter last year, the business earned $0.91 earnings per share. American Express’s quarterly revenue was up 10.2% compared to the same quarter last year. research analysts anticipate that American Express will post 7.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.48%. American Express’s dividend payout ratio (DPR) is currently 46.82%.
In other news, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total value of $5,446,362.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Peter Bush sold 13,356 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the sale, the insider now owns 100,790 shares of the company’s stock, valued at approximately $9,942,933.50. The disclosure for this sale can be found here. Insiders sold a total of 326,110 shares of company stock valued at $31,858,001 in the last 90 days. Company insiders own 0.67% of the company’s stock.
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American Express Company 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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