Eastern Bank lifted its stake in shares of American Express (NYSE:AXP) by 23.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,391 shares of the payment services company’s stock after acquiring an additional 1,200 shares during the period. Eastern Bank’s holdings in American Express were worth $634,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in American Express by 4.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after buying an additional 6,709 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in American Express by 10.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after buying an additional 554 shares during the last quarter. Westpac Banking Corp boosted its stake in American Express by 2.2% in the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after buying an additional 5,252 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in American Express in the 3rd quarter worth about $5,505,000. Finally, Shelton Capital Management acquired a new stake in American Express in the 2nd quarter worth about $670,000. 83.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider James Peter Bush sold 13,548 shares of American Express stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $97.60, for a total value of $1,322,284.80. Following the completion of the transaction, the insider now owns 90,052 shares in the company, valued at approximately $8,789,075.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ashwini Gupta sold 57,306 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were 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. In the last quarter, insiders sold 326,110 shares of company stock valued at $31,858,001. Insiders own 0.67% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. lowered 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. Sandler O’Neill reissued a “buy” rating on shares of American Express in a research note on Wednesday, January 17th. Barclays set a $119.00 price target on American Express and gave the stock an “equal weight” rating in a research note on Thursday, January 11th. Finally, BMO Capital Markets restated a “hold” rating and issued a $103.00 price objective on shares of American Express in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and an average price target of $102.68.
American Express (NYSE:AXP) opened at $94.56 on Wednesday. The company has a market capitalization of $82,199.24, a P/E ratio of 32.61, a PEG ratio of 1.30 and a beta of 1.19. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. American Express has a 12-month low of $75.51 and a 12-month high of $102.39.
American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during 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%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. research analysts expect that American Express will post 7.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were given a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. American Express’s payout ratio is 48.28%.
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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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