MUFG Americas Holdings Corp reduced its stake in American Express (NYSE:AXP) by 6.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 179,852 shares of the payment services company’s stock after selling 13,229 shares during the quarter. MUFG Americas Holdings Corp’s holdings in American Express were worth $16,777,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of AXP. Hennessy Advisors Inc. lifted its holdings in shares of American Express by 13.3% during the fourth quarter. Hennessy Advisors Inc. now owns 17,000 shares of the payment services company’s stock worth $1,688,000 after buying an additional 2,000 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of American Express during the fourth quarter worth approximately $238,000. Brown Advisory Inc. lifted its holdings in shares of American Express by 32.1% during the fourth quarter. Brown Advisory Inc. now owns 299,622 shares of the payment services company’s stock worth $29,757,000 after buying an additional 72,859 shares during the last quarter. Rockland Trust Co. lifted its holdings in shares of American Express by 80.4% during the fourth quarter. Rockland Trust Co. now owns 4,066 shares of the payment services company’s stock worth $404,000 after buying an additional 1,812 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of American Express by 7.6% during the fourth quarter. Victory Capital Management Inc. now owns 45,889 shares of the payment services company’s stock worth $4,557,000 after buying an additional 3,231 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.
In other American Express news, Vice Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total value of $1,225,625.00. Following the sale, the insider now directly owns 203,920 shares in the company, valued at $19,994,356. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $882,450.00. Following the completion of the sale, the chief financial officer now owns 79,978 shares in the company, valued at $7,841,842.90. The disclosure for this sale can be found here. Insiders sold 58,252 shares of company stock worth $5,800,027 over the last quarter. Company insiders own 0.20% of the company’s stock.
AXP has been the subject of a number of research analyst reports. Sandler O’Neill reiterated a “buy” rating on shares of American Express in a report on Wednesday, January 17th. Piper Jaffray reiterated a “hold” rating and set a $126.00 price target on shares of American Express in a report on Thursday, January 18th. Oppenheimer set a $117.00 price target on American Express and gave the stock a “buy” rating in a report on Friday, January 19th. Barclays upped their price target on American Express from $112.00 to $119.00 in a report on Friday, January 19th. Finally, Guggenheim lowered American Express from a “buy” rating to a “neutral” rating and upped their price target for the stock from $98.03 to $102.00 in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $107.45.
Shares of NYSE:AXP opened at $101.42 on Monday. American Express has a fifty-two week low of $75.97 and a fifty-two week high of $102.96. The firm has a market capitalization of $87.26 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 1.37 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.67.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.15. American Express had a return on equity of 28.41% and a net margin of 8.79%. The firm had revenue of $9.72 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. research analysts predict that American Express will post 7.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 5th. American Express’s dividend payout ratio (DPR) is 23.85%.
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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