FIL Ltd boosted its holdings in shares of American Express (NYSE:AXP) by 43.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,152 shares of the payment services company’s stock after purchasing an additional 60,756 shares during the quarter. FIL Ltd’s holdings in American Express were worth $22,095,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Pearl River Capital LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $25,000. JNBA Financial Advisors acquired a new position in shares of American Express in the 4th quarter worth approximately $26,000. Camarda Financial Advisors LLC acquired a new position in shares of American Express in the 1st quarter worth approximately $26,000. Creative Financial Designs Inc. ADV acquired a new position in shares of American Express in the 1st quarter worth approximately $28,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
In related news, Chairman Stephen J. Squeri sold 101,964 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the completion of the sale, the chairman now directly owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 44,584 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total value of $5,316,642.00. Following the sale, the insider now directly owns 80,375 shares of the company’s stock, valued at $9,584,718.75. The disclosure for this sale can be found here. Insiders have sold a total of 183,797 shares of company stock valued at $21,861,060 over the last ninety days. Insiders own 0.21% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine raised American Express from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of American Express in a report on Friday, May 3rd. Bank of America reissued a “neutral” rating and issued a $108.00 target price on shares of American Express in a report on Thursday, March 14th. Morgan Stanley raised American Express from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $123.00 to $140.00 in a report on Thursday, April 25th. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $125.00 target price (up from $115.00) on shares of American Express in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $116.63.
AXP stock opened at $121.86 on Friday. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $124.74. The firm has a market cap of $101.90 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.63.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.01. American Express had a return on equity of 29.86% and a net margin of 16.60%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.46 billion. During the same period last year, the firm posted $1.86 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that American Express will post 8.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.28%. American Express’s dividend payout ratio is 21.28%.
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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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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