Verition Fund Management LLC purchased a new position in shares of American Express (NYSE:AXP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,278 shares of the payment services company’s stock, valued at approximately $723,000.
A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Zions Bancorporation lifted its stake in American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after purchasing an additional 1,205 shares during the period. Trustcore Financial Services LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $128,000. Westside Investment Management Inc. increased its holdings in shares of American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares in the last quarter. WFG Advisors LP increased its holdings in shares of American Express by 38.8% during the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock worth $132,000 after buying an additional 438 shares in the last quarter. Finally, Delpha Capital Management LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $138,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.
In other American Express news, insider James Peter Bush sold 13,356 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $98.65, for a total value of $1,317,569.40. Following the transaction, the insider now directly owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective for the company. in a report on Friday, January 12th. Sandler O’Neill reaffirmed a “buy” rating on shares of American Express in a report on Wednesday, January 17th. Barclays set a $119.00 price objective on shares of American Express and gave the stock an “equal weight” rating in a report on Thursday, January 11th. Finally, Wells Fargo reaffirmed 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. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the stock. American Express presently has an average rating of “Hold” and an average target price of $103.89.
American Express (NYSE AXP) opened at $94.84 on Tuesday. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The stock has a market cap of $82,251.26, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.06.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.00%. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. equities research analysts predict that American Express will post 7.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.48%. American Express’s payout ratio is presently 48.28%.
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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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