First National Trust Co grew its holdings in shares of American Express (NYSE:AXP) by 49.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,244 shares of the payment services company’s stock after buying an additional 3,741 shares during the quarter. First National Trust Co’s holdings in American Express were worth $1,197,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AXP. FMR LLC boosted its stake in shares of American Express by 969.9% in the second quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock valued at $939,396,000 after purchasing an additional 8,689,714 shares during the period. Renaissance Technologies LLC purchased a new position in shares of American Express in the second quarter valued at $127,567,000. Millennium Management LLC boosted its stake in shares of American Express by 84.3% in the second quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock valued at $228,251,000 after purchasing an additional 1,065,461 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of American Express by 380.8% in the second quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock valued at $18,049,000 after purchasing an additional 631,457 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of American Express by 1.4% in the second quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after purchasing an additional 626,323 shares during the period. Institutional investors own 82.87% of the company’s stock.
Shares of NYSE:AXP opened at $104.04 on Friday. The firm has a market cap of $87.20 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. American Express has a 1-year low of $87.54 and a 1-year high of $111.77. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88.
American Express (NYSE:AXP) last issued its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.11. The company had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 31.26%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. As a group, equities research analysts anticipate that American Express will post 7.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, October 4th. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is 26.58%.
In other news, major shareholder Ventures Fund Vii L.P. Vivo acquired 20,142,123 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $0.17 per share, with a total value of $3,424,160.91. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott Murcray acquired 350,000 shares of the company’s stock in a transaction that occurred on Monday, September 3rd. The stock was purchased at an average cost of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.
Several brokerages have recently weighed in on AXP. Zacks Investment Research downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Stephens upgraded shares of American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 target price for the company in a research note on Monday, September 17th. Bank of America set a $125.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Friday, October 19th. Wells Fargo & Co increased their price objective on shares of American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Finally, Morgan Stanley increased their price objective on shares of American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, October 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $112.70.
American Express Company 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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