Gabelli Funds LLC cut its stake in shares of American Express (NYSE:AXP) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,481,016 shares of the payment services company’s stock after selling 58,000 shares during the quarter. American Express makes up approximately 0.8% of Gabelli Funds LLC’s portfolio, making the stock its 6th biggest position. Gabelli Funds LLC’s holdings in American Express were worth $138,149,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AXP. Certified Advisory Corp acquired a new position in shares of American Express during the fourth quarter worth about $101,000. Trustcore Financial Services LLC purchased a new stake in American Express during the fourth quarter worth approximately $128,000. Delpha Capital Management LLC purchased a new stake in American Express during the fourth quarter worth approximately $138,000. First Dallas Securities Inc. purchased a new stake in American Express during the fourth quarter worth approximately $139,000. Finally, Focused Wealth Management Inc purchased a new stake in American Express during the fourth quarter worth approximately $139,000. 82.98% of the stock is owned by institutional investors and hedge funds.
AXP has been the subject of several recent analyst reports. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. TheStreet upgraded American Express from a “c+” rating to a “b+” rating in a research note on Wednesday, April 18th. UBS initiated coverage on American Express in a research note on Tuesday, March 27th. They set a “buy” rating and a $111.00 target price for the company. Oppenheimer set a $117.00 target price on American Express and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Friday, March 16th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average price target of $107.45.
Shares of American Express opened at $102.04 on Tuesday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a twelve month low of $75.98 and a twelve month high of $102.96. The company has a market capitalization of $86.89 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.36 and a beta of 1.13.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.15. American Express had a return on equity of 28.41% and a net margin of 8.79%. The company had revenue of $9.72 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. sell-side analysts anticipate that American Express will post 7.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, July 5th. American Express’s dividend payout ratio is currently 23.85%.
In other American Express news, insider L Kevin Cox sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $99.50, for a total value of $296,012.50. Following the completion of the sale, the insider now owns 19,249 shares in the company, valued at $1,915,275.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $1,225,625.00. Following the completion of the sale, the insider now owns 203,920 shares of the company’s stock, valued at approximately $19,994,356. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,252 shares of company stock valued at $5,800,027. 0.20% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.