Cornerstone Capital Management Holdings LLC. grew its stake in American Express (NYSE:AXP) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 154,494 shares of the payment services company’s stock after purchasing an additional 8,603 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in American Express were worth $15,342,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AXP. Nordea Investment Management AB lifted its stake in shares of American Express by 65.0% in the 2nd quarter. Nordea Investment Management AB now owns 2,040,291 shares of the payment services company’s stock valued at $171,874,000 after purchasing an additional 803,462 shares during the period. Roundview Capital LLC raised its stake in American Express by 5.8% during the 2nd quarter. Roundview Capital LLC now owns 21,031 shares of the payment services company’s stock worth $1,772,000 after buying an additional 1,150 shares during the period. Parametric Portfolio Associates LLC raised its stake in American Express by 27.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,056,407 shares of the payment services company’s stock worth $173,224,000 after buying an additional 439,659 shares during the period. Renaissance Technologies LLC acquired a new stake in American Express during the 2nd quarter worth $101,526,000. Finally, Dimensional Fund Advisors LP raised its stake in American Express by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,293,396 shares of the payment services company’s stock worth $277,428,000 after buying an additional 166,081 shares during the period. 84.11% of the stock is currently owned by institutional investors.
AXP has been the topic of several 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 note on Friday, December 22nd. Bank of America set a $128.00 price objective on American Express and gave the stock a “buy” rating in a research note on Monday, December 18th. 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 research note on Tuesday, January 9th. Barclays raised their price objective on American Express from $112.00 to $119.00 in a research note on Friday, January 19th. Finally, JPMorgan Chase downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $104.38.
Shares of NYSE AXP traded down $2.29 during mid-day trading on Friday, hitting $91.91. The company had a trading volume of 2,968,492 shares, compared to its average volume of 3,613,379. The stock has a market capitalization of $81,038.26, a price-to-earnings ratio of 15.66, a PEG ratio of 1.29 and a beta of 1.14. 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 has a one year low of $75.51 and a one year high of $102.39.
American Express (NYSE:AXP) last announced its quarterly earnings data 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 analysts’ expectations 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 last year, the company earned $0.91 EPS. sell-side analysts expect that American Express will post 7.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, April 5th. American Express’s payout ratio is 23.85%.
In other news, insider James Peter Bush sold 13,356 shares of the firm’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 in the company, valued at approximately $9,942,933.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.
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American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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