King Luther Capital Management Corp Acquires 1,042 Shares of American Express (AXP)

King Luther Capital Management Corp grew its holdings in American Express (NYSE:AXP) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 97,638 shares of the payment services company’s stock after acquiring an additional 1,042 shares during the period. King Luther Capital Management Corp’s holdings in American Express were worth $10,397,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AXP. Motley Fool Asset Management LLC grew 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 purchasing an additional 1,307 shares during the last quarter. BlackRock Inc. grew 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 purchasing an additional 626,323 shares during the last quarter. Tiedemann Advisors LLC grew 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 purchasing an additional 6,684 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew 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 purchasing an additional 97,384 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of American Express by 11.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 184,171 shares of the payment services company’s stock worth $18,049,000 after purchasing an additional 18,351 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

AXP has been the topic of several analyst reports. Nomura upped their target price on shares of American Express from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 19th. BMO Capital Markets upped their target price on shares of American Express from $106.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, October 19th. Stephens set a $131.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Saturday, October 20th. Morgan Stanley upped their target price on shares of American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, October 19th. Finally, Wells Fargo & Co upped their target price on shares of American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.70.

Shares of NYSE:AXP opened at $108.25 on Friday. American Express has a 12 month low of $87.54 and a 12 month high of $114.55. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $91.95 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.39 and a beta of 1.06.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. American Express had a net margin of 9.51% and a return on equity of 31.26%. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Analysts expect that American Express will post 7.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, January 3rd. American Express’s dividend payout ratio is currently 26.58%.

In other news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 209,957 shares of the company’s stock, valued at approximately $21,801,934.88. The sale 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 dated Wednesday, September 12th. The shares were sold at an average price of $107.83, for a total transaction of $2,797,972.84. Following the completion of the transaction, the insider now directly owns 33,111 shares in the company, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “King Luther Capital Management Corp Acquires 1,042 Shares of American Express (AXP)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/12/07/king-luther-capital-management-corp-acquires-1042-shares-of-american-express-axp.html.

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.

Further Reading: What is a Roth IRA?

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply