American Express (AXP) Shares Bought by Buckingham Asset Management LLC

Buckingham Asset Management LLC boosted its stake in American Express (NYSE:AXP) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,810 shares of the payment services company’s stock after purchasing an additional 589 shares during the period. Buckingham Asset Management LLC’s holdings in American Express were worth $832,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AXP. FMR LLC boosted its stake in shares of American Express by 969.9% during the 2nd quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after acquiring an additional 8,689,714 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of American Express during the 2nd quarter worth $127,567,000. Millennium Management LLC boosted its stake in shares of American Express by 84.3% during the 2nd quarter. Millennium Management LLC now owns 2,329,094 shares of the payment services company’s stock worth $228,251,000 after acquiring an additional 1,065,461 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of American Express by 380.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 797,277 shares of the payment services company’s stock valued at $18,049,000 after buying an additional 631,457 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of American Express by 1.4% during the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after buying an additional 626,323 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Ventures Fund Vii L.P. Vivo purchased 20,142,123 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc D. Gordon sold 25,948 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total transaction of $2,797,972.84. Following the completion of the sale, the insider now owns 33,111 shares in the company, valued at $3,570,359.13. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Shares of AXP stock opened at $104.98 on Wednesday. The firm has a market capitalization of $88.60 billion, a price-to-earnings ratio of 14.48, 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 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 announced its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. The business 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 business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 EPS. As a group, equities analysts expect that American Express will post 7.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 4th. This represents a $1.56 annualized dividend and a yield of 1.49%. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s payout ratio is presently 26.58%.

A number of research firms recently weighed in on AXP. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Royal Bank of Canada restated a “sell” rating and set a $87.00 target price on shares of American Express in a research note on Thursday, July 19th. BMO Capital Markets lifted their target price on shares of American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, July 19th. Finally, Wells Fargo & Co lifted their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $112.70.

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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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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