Barings LLC lessened its holdings in American Express (NYSE:AXP) by 84.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,016 shares of the payment services company’s stock after selling 32,880 shares during the period. Barings LLC’s holdings in American Express were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of AXP. DnB Asset Management AS raised its stake in American Express by 3.8% in the 2nd quarter. DnB Asset Management AS now owns 91,003 shares of the payment services company’s stock valued at $8,918,000 after acquiring an additional 3,300 shares during the period. Clinton Group Inc. raised its stake in American Express by 138.4% in the 2nd quarter. Clinton Group Inc. now owns 5,439 shares of the payment services company’s stock valued at $533,000 after acquiring an additional 3,158 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in American Express by 8.7% in the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 19,608 shares of the payment services company’s stock valued at $1,921,000 after acquiring an additional 1,569 shares during the period. IFM Investors Pty Ltd raised its stake in American Express by 43.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 33,157 shares of the payment services company’s stock valued at $3,249,000 after acquiring an additional 10,100 shares during the period. Finally, CENTRAL TRUST Co raised its stake in American Express by 7.1% in the 2nd quarter. CENTRAL TRUST Co now owns 43,171 shares of the payment services company’s stock valued at $4,231,000 after acquiring an additional 2,844 shares during the period. Institutional investors and hedge funds own 82.87% of the company’s stock.
Several research firms have weighed in on AXP. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective on the stock in a research report on Monday, September 17th. Bank of America set a $125.00 price objective on American Express and gave the stock a “buy” rating in a research report on Friday, October 19th. Wells Fargo & Co increased their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Morgan Stanley increased their price objective on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $112.70.
In related news, CFO Scott Murcray bought 350,000 shares of American Express stock in a transaction dated Monday, September 3rd. The shares were bought at an average cost of $0.28 per share, with a total value of $98,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marc D. Gordon sold 25,948 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the sale, the insider now directly owns 33,111 shares in the company, valued at $3,570,359.13. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
AXP opened at $103.71 on Friday. The firm has a market cap of $88.60 billion, a PE ratio of 17.67, a P/E/G ratio of 1.40 and a beta of 1.06. American Express has a 52-week low of $87.54 and a 52-week high of $111.77. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58.
American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. Equities analysts forecast that American Express will post 7.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be issued a dividend of $0.39 per share. This is a positive change from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, October 4th. American Express’s dividend payout ratio is 26.58%.
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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