Virtue Capital Management LLC bought a new stake in American Express (NYSE:AXP) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,581 shares of the payment services company’s stock, valued at approximately $256,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position 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 purchasing an additional 6,709 shares during the period. Westpac Banking Corp boosted its position 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 purchasing an additional 5,252 shares during the period. Crossmark Global Holdings Inc. bought a new position in American Express during the third quarter worth $5,505,000. Shelton Capital Management bought a new position in American Express during the second quarter worth $670,000. Finally, Schroder Investment Management Group boosted its position in American Express by 17.5% during the third quarter. Schroder Investment Management Group now owns 1,416,401 shares of the payment services company’s stock worth $127,674,000 after purchasing an additional 211,304 shares during the period. 83.30% of the stock is owned by institutional investors and hedge funds.
In related news, insider James Peter Bush sold 13,356 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $98.65, for a total value of $1,317,569.40. Following the completion of the transaction, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas E. Buckminster sold 88,930 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $98.87, for a total value of $8,792,509.10. Following the completion of the transaction, the insider now directly 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. In the last ninety days, insiders sold 255,256 shares of company stock valued at $25,089,354. 0.67% of the stock is owned by insiders.
American Express (NYSE:AXP) opened at $99.05 on Friday. The company has a market capitalization of $85,210.64, a PE ratio of 34.16, a P/E/G ratio of 1.35 and a beta of 1.16. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.93 and a quick ratio of 1.93.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. American Express’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. equities analysts expect that American Express will post 7.14 EPS for the current year.
AXP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $116.00 price objective on shares of American Express in a research report on Friday, December 22nd. Bank of America set a $128.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Monday, December 18th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Friday, January 12th. Barclays lifted their price objective on shares of American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of American Express in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $102.68.
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American Express 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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