Park National Corp OH cut its stake in shares of American Express (NYSE:AXP) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,313 shares of the payment services company’s stock after selling 8,231 shares during the quarter. Park National Corp OH’s holdings in American Express were worth $10,778,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of AXP. FMR LLC increased its position in shares of American Express by 49.5% in the fourth quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after buying an additional 8,136,470 shares in the last quarter. Norges Bank purchased a new position in shares of American Express in the fourth quarter valued at $643,757,000. Egerton Capital UK LLP increased its position in shares of American Express by 18.4% in the first quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after buying an additional 1,452,890 shares in the last quarter. Findlay Park Partners LLP increased its position in shares of American Express by 24.8% in the first quarter. Findlay Park Partners LLP now owns 3,367,074 shares of the payment services company’s stock valued at $368,021,000 after buying an additional 669,053 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of American Express by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock valued at $807,358,000 after buying an additional 459,983 shares in the last quarter. 83.62% of the stock is owned by hedge funds and other institutional investors.
In other American Express news, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total value of $1,794,441.06. Following the transaction, the insider now owns 69,941 shares of the company’s stock, valued at approximately $7,969,077.54. 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 in the last 90 days. Insiders own 0.21% of the company’s stock.
Shares of NYSE:AXP traded up $2.20 during mid-day trading on Tuesday, hitting $128.20. 4,055,092 shares of the company traded hands, compared to its average volume of 3,376,428. The firm has a market capitalization of $106.28 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.88 and a current ratio of 2.18. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The stock’s 50 day moving average price is $124.01.
American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.02. American Express had a return on equity of 29.78% and a net margin of 16.60%. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the previous year, the business earned $1.84 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that American Express will post 8.13 earnings per share for the current fiscal 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 of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.22%. American Express’s dividend payout ratio is currently 21.28%.
A number of analysts recently commented on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday. Deutsche Bank reissued a “buy” rating and issued a $80.00 price target on shares of Bayerische Motoren Werke in a research note on Monday, July 8th. UBS Group began coverage on Molecular Templates in a research note on Monday, April 29th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Stephens set a $131.00 price target on American Express and gave the stock a “buy” rating in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $124.38.
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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