Noesis Capital Mangement Corp decreased its position in American Express (NYSE:AXP) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,159 shares of the payment services company’s stock after selling 2,085 shares during the period. American Express makes up 3.9% of Noesis Capital Mangement Corp’s portfolio, making the stock its 2nd largest position. Noesis Capital Mangement Corp’s holdings in American Express were worth $11,139,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in American Express by 4.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares during the period. Westpac Banking Corp boosted its stake in American Express by 2.2% in the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after purchasing an additional 5,252 shares during the period. Crossmark Global Holdings Inc. acquired a new position in American Express in the 3rd quarter worth $5,505,000. Shelton Capital Management acquired a new position in American Express in the 2nd quarter worth $670,000. Finally, Schroder Investment Management Group boosted its stake in American Express by 17.5% in the 3rd quarter. Schroder Investment Management Group now owns 1,416,401 shares of the payment services company’s stock worth $127,674,000 after purchasing an additional 211,304 shares during the period. 84.13% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the stock. Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Tuesday. Stephens reaffirmed a “hold” rating on shares of American Express in a research note on Thursday, March 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Instinet assumed coverage on shares of American Express in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $110.00 target price for the company. Finally, TheStreet lowered shares of American Express from a “b+” rating to a “c+” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $103.26.
American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.00%. American Express’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. research analysts anticipate that American Express will post 7.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. American Express’s payout ratio is 23.65%.
In other American Express news, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total value of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Peter Bush sold 13,356 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the transaction, the insider now directly owns 100,790 shares in the company, valued at $9,942,933.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,585 shares of company stock worth $11,973,047. 0.67% of the stock is owned by insiders.
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American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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