Dynamic Technology Lab Private Ltd purchased a new position in American Express (NYSE:AXP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,509 shares of the payment services company’s stock, valued at approximately $2,610,000. American Express accounts for 0.4% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 20th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Tuttle Tactical Management purchased a new position in American Express during the 2nd quarter worth $105,000. Ancora Advisors LLC purchased a new position in American Express during the 3rd quarter worth $106,000. Lenox Wealth Advisors LLC increased its holdings in American Express by 1,173.8% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock worth $114,000 after purchasing an additional 986 shares during the period. Sageworth Trust Co increased its holdings in American Express by 455.6% during the 3rd quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock worth $133,000 after purchasing an additional 1,025 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in American Express by 67.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,595 shares of the payment services company’s stock worth $171,000 after purchasing an additional 644 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.
Shares of NYSE:AXP opened at $107.64 on Thursday. American Express has a 12-month low of $87.54 and a 12-month high of $114.55. The firm has a market capitalization of $91.95 billion, a PE ratio of 18.34, a P/E/G ratio of 1.39 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 results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same period last year, the business posted $1.50 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that American Express will post 7.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 4th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.45%. American Express’s dividend payout ratio is presently 26.58%.
Several research analysts have commented on the company. Buckingham Research downgraded American Express from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Thursday, November 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded American Express from a “hold” rating to a “sell” rating in a 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 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 report on Friday, October 19th. Finally, Wells Fargo & Co raised their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $112.70.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the completion of the sale, the chairman now owns 209,957 shares of the company’s stock, valued at approximately $21,801,934.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc D. Gordon sold 25,948 shares of the firm’s 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 completion of the sale, the insider now directly owns 33,111 shares of the company’s stock, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
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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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