FineMark National Bank & Trust decreased its position in American Express (NYSE:AXP) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,475 shares of the payment services company’s stock after selling 654 shares during the period. FineMark National Bank & Trust’s holdings in American Express were worth $1,222,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Motley Fool Asset Management LLC lifted its holdings in shares of American Express by 16.3% in the 2nd quarter. Motley Fool Asset Management LLC now owns 9,314 shares of the payment services company’s stock worth $913,000 after acquiring an additional 1,307 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of American Express by 1.4% in the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after acquiring an additional 626,323 shares during the last quarter. Tiedemann Advisors LLC lifted its holdings in shares of American Express by 55.4% in the 2nd quarter. Tiedemann Advisors LLC now owns 18,749 shares of the payment services company’s stock worth $1,837,000 after acquiring an additional 6,684 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Express by 251.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 136,187 shares of the payment services company’s stock worth $13,346,000 after acquiring an additional 97,384 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of American Express by 18.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,005 shares of the payment services company’s stock worth $490,000 after acquiring an additional 783 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $103.84, for a total value of $1,298,000.00. Following the sale, the chairman now directly owns 209,957 shares in the company, valued at approximately $21,801,934.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Fund Vii L.P. Vivo acquired 20,142,123 shares of American Express stock in a transaction dated Thursday, August 30th. The stock was purchased at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.
AXP has been the topic of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of American Express in a report on Monday, July 16th. BMO Capital Markets increased their target price on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. Oppenheimer set a $113.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Wednesday, July 18th. Royal Bank of Canada reiterated a “sell” rating and set a $87.00 target price on shares of American Express in a report on Thursday, July 19th. Finally, UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $112.70.
Shares of AXP opened at $104.98 on Wednesday. American Express has a twelve month low of $87.54 and a twelve month high of $111.77. The firm has a market capitalization of $88.60 billion, a PE ratio of 17.88, a PEG ratio of 1.40 and a beta of 1.06. 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 announced its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a net margin of 9.51% and a return on equity of 31.26%. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the business earned $1.50 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Equities analysts expect 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. Stockholders 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 1.49%. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, October 4th. American Express’s dividend payout ratio (DPR) is presently 26.58%.
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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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