Trustco Bank Corp N Y Invests $1.27 Million in American Express (NYSE:AXP) Stock

Trustco Bank Corp N Y bought a new position in shares of American Express (NYSE:AXP) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 11,575 shares of the payment services company’s stock, valued at approximately $1,265,000. American Express comprises approximately 1.4% of Trustco Bank Corp N Y’s portfolio, making the stock its 28th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. Papp L Roy & Associates increased its position in American Express by 1.3% during the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after buying an additional 86 shares during the last quarter. Enterprise Financial Services Corp increased its position in American Express by 24.8% during the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after buying an additional 94 shares during the last quarter. Brandywine Oak Private Wealth LLC increased its position in American Express by 3.8% during the first quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after buying an additional 97 shares during the last quarter. Bremer Trust National Association increased its position in American Express by 2.6% during the fourth quarter. Bremer Trust National Association now owns 3,991 shares of the payment services company’s stock worth $380,000 after buying an additional 100 shares during the last quarter. Finally, Rockland Trust Co. increased its position in American Express by 1.6% during the first quarter. Rockland Trust Co. now owns 6,169 shares of the payment services company’s stock worth $674,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Several equities analysts have recently commented on AXP shares. UBS Group downgraded American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price on the stock. in a research report on Monday, April 29th. Oppenheimer set a $119.00 target price on American Express and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley upped their target price on American Express from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Monday, April 22nd. DZ Bank downgraded American Express from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Stephens set a $131.00 target price on American Express and gave the company a “buy” rating in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $116.63.

In related news, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $122.93, for a total transaction of $799,045.00. Following the sale, the chief financial officer now owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total value of $1,720,350.00. Following the sale, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The disclosure for this sale can be found here. Insiders have sold 183,797 shares of company stock worth $21,861,060 in the last three months. 0.21% of the stock is currently owned by company insiders.

American Express stock opened at $122.00 on Friday. American Express has a 12 month low of $89.05 and a 12 month high of $124.74. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $101.76 billion, a PE ratio of 16.64, a PEG ratio of 1.41 and a beta of 1.07.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.01. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, analysts anticipate that American Express will post 8.12 EPS for the current year.

The business also recently declared 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. This represents a $1.56 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, July 3rd. American Express’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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