World Asset Management Inc Purchases 435 Shares of American Express (NYSE:AXP)

World Asset Management Inc raised its stake in shares of American Express (NYSE:AXP) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,342 shares of the payment services company’s stock after purchasing an additional 435 shares during the period. World Asset Management Inc’s holdings in American Express were worth $6,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Welch Group LLC lifted its holdings in shares of American Express by 2.2% in the 2nd quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock valued at $476,000 after acquiring an additional 84 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of American Express by 2.0% in the 2nd quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock valued at $554,000 after acquiring an additional 88 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of American Express by 0.7% in the 2nd quarter. Hodges Capital Management Inc. now owns 12,708 shares of the payment services company’s stock valued at $1,569,000 after acquiring an additional 90 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of American Express by 0.9% in the 3rd quarter. Acropolis Investment Management LLC now owns 10,561 shares of the payment services company’s stock valued at $1,249,000 after acquiring an additional 97 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc lifted its holdings in shares of American Express by 4.1% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 2,561 shares of the payment services company’s stock valued at $316,000 after acquiring an additional 100 shares during the last quarter. 83.90% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on AXP shares. Oppenheimer set a $127.00 price target on shares of American Express and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the company a “hold” rating in a report on Friday, July 19th. BMO Capital Markets increased their price target on shares of American Express from $119.00 to $123.00 and gave the company a “market perform” rating in a report on Monday. William Blair reissued a “buy” rating on shares of American Express in a research report on Friday. Finally, Deutsche Bank started coverage on shares of American Express in a research report on Monday, July 8th. They issued a “buy” rating and a $142.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.56.

In other news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the transaction, the insider now directly owns 35,931 shares of the company’s stock, valued at $4,565,392.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total transaction of $879,990.95. Following the transaction, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The disclosure for this sale can be found here. Insiders sold a total of 37,500 shares of company stock worth $4,618,653 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

American Express stock traded down $0.39 during midday trading on Tuesday, reaching $118.66. The stock had a trading volume of 260,233 shares, compared to its average volume of 3,314,359. The company has a quick ratio of 1.84, a current ratio of 2.12 and a debt-to-equity ratio of 2.52. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The firm has a market cap of $96.87 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06. The company has a fifty day moving average of $117.47 and a 200 day moving average of $119.78.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. American Express had a net margin of 16.51% and a return on equity of 29.69%. The company had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $1.88 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that American Express will post 8.15 EPS for the current year.

The company also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s dividend payout ratio (DPR) is currently 23.47%.

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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