State of Tennessee Treasury Department raised its holdings in shares of American Express (NYSE:AXP) by 84.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 831,304 shares of the payment services company’s stock after purchasing an additional 380,567 shares during the quarter. State of Tennessee Treasury Department owned 0.10% of American Express worth $82,557,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after acquiring an additional 731,428 shares in the last quarter. BlackRock Inc. grew its stake in shares of American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of American Express by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock worth $1,179,061,000 after acquiring an additional 325,140 shares in the last quarter. Veritas Asset Management LLP grew its stake in shares of American Express by 7.1% in the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after acquiring an additional 735,952 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of American Express by 59.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock worth $526,879,000 after acquiring an additional 1,968,718 shares in the last quarter. Institutional investors and hedge funds own 82.38% of the company’s stock.
In other news, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the sale, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ashwini Gupta sold 57,306 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total transaction of $5,446,362.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 326,110 shares of company stock worth $31,858,001. Insiders own 0.67% of the company’s stock.
AXP has been the subject of several recent analyst reports. Stephens set a $97.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research note on Thursday, January 11th. Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $126.00 target price on shares of American Express in a research note on Thursday, January 18th. Two investment 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. American Express presently has a consensus rating of “Hold” and an average price target of $102.68.
Shares of American Express (NYSE AXP) opened at $97.27 on Wednesday. The company has a market cap of $84,360.00, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.32 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 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. The business had revenue of $8.84 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.91 earnings per share. equities research analysts anticipate that American Express will post 7.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, January 4th. American Express’s dividend payout ratio (DPR) is presently 23.65%.
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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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