Metropolitan Life Insurance Co. NY reduced its holdings in shares of American Express (NYSE:AXP) by 68.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 110,405 shares of the payment services company’s stock after selling 236,919 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in American Express were worth $10,964,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised 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 acquiring an additional 6,709 shares during the last quarter. Westpac Banking Corp raised 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 acquiring 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 about $5,505,000. Shelton Capital Management purchased a new stake in shares of American Express during the second quarter worth about $670,000. Finally, Schroder Investment Management Group grew its holdings in shares of 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 buying an additional 211,304 shares in the last quarter. 84.11% of the stock is currently owned by institutional investors.
AXP stock opened at $91.91 on Friday. 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 has a one year low of $75.51 and a one year high of $102.39. The stock has a market cap of $81,038.26, a price-to-earnings ratio of 15.66, a PEG ratio of 1.29 and a beta of 1.14.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 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 company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts predict that American Express will post 7.14 EPS for the current year.
The company 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, April 5th. American Express’s dividend payout ratio is presently 23.85%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase 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. Sandler O’Neill restated 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 research note on Thursday, January 11th. Finally, Wells Fargo reiterated an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of American Express in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $104.38.
In other news, insider James Peter Bush sold 13,356 shares of the 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.
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About American Express
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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