Navellier & Associates Inc decreased its holdings in shares of American Express (NYSE:AXP) by 26.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,156 shares of the payment services company’s stock after selling 4,044 shares during the period. Navellier & Associates Inc’s holdings in American Express were worth $1,108,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in 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 buying an additional 6,709 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in American Express by 10.8% during the second 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 raised its holdings in American Express by 2.2% during the third 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 position in American Express during the third quarter worth $5,505,000. Finally, Shelton Capital Management acquired a new position in American Express during the second quarter worth $670,000. Hedge funds and other institutional investors own 82.38% of the company’s stock.
American Express (NYSE:AXP) opened at $98.80 on Friday. The firm has a market cap of $83,748.14, a PE ratio of 34.07, a P/E/G ratio of 1.33 and a beta of 1.19. The company has a current ratio of 1.93, a quick ratio of 1.90 and a debt-to-equity ratio of 3.06. American Express has a 1 year low of $75.51 and a 1 year high of $102.39.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 8.08% and a return on equity of 26.00%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. equities analysts forecast that American Express will post 7.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s payout ratio is currently 48.28%.
AXP has been the topic of several research reports. Wells Fargo & Co restated an “outperform” rating and set a $115.00 price objective (up previously from $105.00) on shares of American Express in a report on Tuesday, January 9th. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays increased their target price on shares of American Express from $112.00 to $119.00 in a report on Friday, January 19th. Bank of America set a $128.00 target price on shares of American Express and gave the company a “buy” rating in a report on Monday, December 18th. Finally, JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $102.68.
In other American Express news, insider Ashwini Gupta sold 57,306 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas E. Buckminster sold 88,930 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $98.87, for a total transaction of $8,792,509.10. Following the transaction, the insider now owns 152,507 shares of the company’s stock, valued at approximately $15,078,367.09. The disclosure for this sale can be found here. Insiders have sold 326,110 shares of company stock valued at $31,858,001 in the last quarter. Company insiders own 0.67% of the company’s stock.
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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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