State of Tennessee Treasury Department decreased its holdings in shares of American Express (NYSE:AXP) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 584,745 shares of the payment services company’s stock after selling 413 shares during the period. State of Tennessee Treasury Department’s holdings in American Express were worth $63,913,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Camarda Financial Advisors LLC acquired a new stake in American Express in the first quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV acquired a new stake in American Express in the first quarter valued at approximately $28,000. Pearl River Capital LLC acquired a new stake in American Express in the fourth quarter valued at approximately $25,000. JNBA Financial Advisors acquired a new stake in American Express in the fourth quarter valued at approximately $26,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in American Express in the fourth quarter valued at approximately $31,000. Institutional investors own 83.65% of the company’s stock.
A number of brokerages have recently issued reports on AXP. Morgan Stanley raised American Express from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $123.00 to $140.00 in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 price target on shares of American Express in a research note on Friday, May 3rd. UBS Group lowered American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target on the stock. in a research note on Monday, April 29th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 price target (up from $115.00) on shares of American Express in a research note on Tuesday, March 12th. Finally, ValuEngine raised American Express from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $116.63.
In other news, CFO Jeffrey C. Campbell sold 6,500 shares of American Express stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the transaction, the chairman now directly owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The disclosure for this sale can be found here. Insiders sold 183,797 shares of company stock worth $21,861,060 in the last 90 days. Company insiders own 0.21% of the company’s stock.
Shares of American Express stock opened at $121.86 on Friday. American Express has a one year low of $89.05 and a one year high of $124.74. The company has a market cap of $101.90 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.63.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.46 billion. During the same quarter last year, the business posted $1.86 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that American Express will post 8.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given 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 payout ratio is 21.28%.
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American Express 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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