American Express (NYSE:AXP) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC trimmed its holdings in American Express (NYSE:AXP) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,210 shares of the payment services company’s stock after selling 340 shares during the quarter. American Express accounts for approximately 1.9% of Sky Investment Group LLC’s investment portfolio, making the stock its 13th biggest holding. Sky Investment Group LLC’s holdings in American Express were worth $9,202,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AXP. State Street Corp boosted its stake in shares of American Express by 0.9% during the 4th quarter. State Street Corp now owns 34,277,797 shares of the payment services company’s stock worth $5,607,848,000 after acquiring an additional 320,288 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of American Express by 0.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,745,967 shares of the payment services company’s stock worth $2,576,040,000 after buying an additional 121,632 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of American Express by 0.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,485,487 shares of the payment services company’s stock worth $2,042,625,000 after buying an additional 115,450 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of American Express by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,833,314 shares of the payment services company’s stock worth $1,603,735,000 after buying an additional 55,027 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of American Express during the 4th quarter worth approximately $993,440,000. 85.49% of the stock is currently owned by institutional investors.

In other news, CEO Stephen J. Squeri sold 48,160 shares of the stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $178.38, for a total value of $8,590,780.80. Following the completion of the sale, the chief executive officer now owns 31,285 shares of the company’s stock, valued at $5,580,618.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodore Leonsis sold 4,005 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Monday, April 11th. Morgan Stanley lifted their target price on shares of American Express from $218.00 to $223.00 and gave the company an “overweight” rating in a report on Monday, March 28th. Oppenheimer reaffirmed a “buy” rating and issued a $212.00 target price on shares of American Express in a report on Friday, June 10th. Bank of America upped their target price on shares of American Express from $204.00 to $206.00 in a research report on Thursday, March 17th. Finally, Edward Jones upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $194.17.

Shares of AXP traded down $3.74 on Thursday, hitting $140.65. 72,354 shares of the stock traded hands, compared to its average volume of 2,940,929. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $105.92 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.12 and a beta of 1.08. The stock’s 50 day moving average is $164.82 and its two-hundred day moving average is $172.95. American Express has a 1 year low of $136.49 and a 1 year high of $199.55.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings data on Friday, April 22nd. The payment services company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.30. The business had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.66 billion. American Express had a net margin of 17.49% and a return on equity of 33.35%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Research analysts forecast that American Express will post 9.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 1st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 30th. American Express’s dividend payout ratio is currently 20.84%.

American Express Company Profile (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Further Reading

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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