Signature Financial Management Inc. bought a new stake in shares of American Express (NYSE:AXP) in the fourth quarter, HoldingsChannel.com reports. The fund bought 2,282 shares of the payment services company’s stock, valued at approximately $227,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. UBS Asset Management Americas Inc. grew its holdings in shares of American Express by 59.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock valued at $526,879,000 after buying an additional 1,968,718 shares during the last quarter. Veritas Asset Management LLP grew its holdings in shares of American Express by 15.2% during the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after buying an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of American Express during the second quarter valued at approximately $101,526,000. Janus Henderson Group PLC grew its holdings in shares of American Express by 55.9% during the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after buying an additional 959,824 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of American Express by 373.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,155,096 shares of the payment services company’s stock valued at $114,710,000 after buying an additional 911,306 shares during the last quarter. 82.38% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on AXP shares. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target on the stock in a report on Tuesday, October 24th. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. ValuEngine cut shares of American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America set a $128.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $116.00 target price on shares of American Express in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $102.68.
In other news, insider Ashwini Gupta sold 57,306 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total transaction of $5,446,362.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Peter Bush sold 12,789 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the sale, the insider now owns 92,504 shares in the company, valued at $9,199,522.80. The disclosure for this sale can be found here. Insiders have sold a total of 326,110 shares of company stock worth $31,858,001 over the last 90 days. Insiders own 0.67% of the company’s stock.
American Express (NYSE AXP) opened at $96.79 on Monday. The firm has a market cap of $83,266.38, a price-to-earnings ratio of 33.38, a PEG ratio of 1.32 and a beta of 1.19. American Express has a one year low of $75.51 and a one year high of $102.39. 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 (NYSE:AXP) last issued its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.07%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. equities research analysts forecast that American Express will post 7.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders 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 dividend yield of 1.45%. 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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