Parthenon LLC raised its stake in American Express (NYSE:AXP) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 54,433 shares of the payment services company’s stock after purchasing an additional 325 shares during the period. American Express makes up about 1.3% of Parthenon LLC’s holdings, making the stock its 24th biggest holding. Parthenon LLC’s holdings in American Express were worth $5,950,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in AXP. Pearl River Capital LLC purchased a new stake in American Express during the 4th quarter worth $25,000. JNBA Financial Advisors purchased a new stake in American Express during the 4th quarter worth $26,000. Camarda Financial Advisors LLC purchased a new stake in American Express during the 1st quarter worth $26,000. Creative Financial Designs Inc. ADV purchased a new stake in American Express during the 1st quarter worth $28,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in American Express during the 4th quarter worth $31,000. Institutional investors own 85.91% of the company’s stock.
NYSE AXP opened at $117.01 on Wednesday. American Express has a one year low of $89.05 and a one year high of $119.65. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $96.79 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.13.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.86%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.46 billion. During the same period in the previous year, the business posted $1.86 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts forecast that American Express will post 8.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Wednesday, July 3rd. American Express’s dividend payout ratio (DPR) is presently 21.28%.
AXP has been the topic of several analyst reports. Oppenheimer set a $119.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of American Express in a research note on Tuesday, March 12th. Morgan Stanley lifted their price target on shares of American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Bank of America set a $108.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Friday, January 18th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $93.00 target price on shares of American Express in a research report on Friday, January 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $116.63.
In other American Express news, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the transaction, the insider now directly owns 69,941 shares of the company’s stock, valued at approximately $7,969,077.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Petrino sold 2,444 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the transaction, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at $813,072.01. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
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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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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