Standard Life Aberdeen plc cut its holdings in shares of American Express (NYSE:AXP) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 677,367 shares of the payment services company’s stock after selling 36,573 shares during the period. Standard Life Aberdeen plc’s holdings in American Express were worth $67,280,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of American Express by 4.9% during the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 valued at $478,000 after acquiring an additional 554 shares during the period. Westpac Banking Corp increased its position in shares of American Express by 2.2% in the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock valued at $22,044,000 after acquiring an additional 5,252 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of American Express in the 3rd quarter valued at $5,505,000. Finally, Shelton Capital Management acquired a new position in shares of American Express in the 2nd quarter valued at $670,000. 82.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express (NYSE:AXP) opened at $97.35 on Friday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.90 and a current ratio of 1.93. American Express has a 12-month low of $75.51 and a 12-month high of $102.39. The firm has a market capitalization of $83,877.19, a PE ratio of 33.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.19.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.00%. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. equities analysts anticipate that American Express will post 7.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, January 4th. American Express’s payout ratio is currently 48.28%.
In other news, insider James Peter Bush sold 13,356 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the sale, the insider now directly owns 100,790 shares of the company’s stock, valued at approximately $9,942,933.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 three months, insiders have sold 326,110 shares of company stock worth $31,858,001. Corporate insiders own 0.67% of the company’s stock.
AXP has been the topic of several research reports. Barclays upped their target price on American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Thursday, January 11th. Deutsche Bank initiated coverage on American Express in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 target price on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $116.00 target price on shares of American Express in a research report on Friday, December 22nd. Finally, Bank of America set a $128.00 target price on American Express and gave the company a “buy” rating in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $102.68.
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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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