Global Financial Private Capital LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,410 shares of the payment services company’s stock after selling 2,735 shares during the quarter. Global Financial Private Capital LLC’s holdings in American Express were worth $4,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in AXP. BancorpSouth Bank boosted its stake in shares of American Express by 2.1% in the third quarter. BancorpSouth Bank now owns 24,119 shares of the payment services company’s stock worth $2,569,000 after buying an additional 490 shares during the last quarter. Titus Wealth Management boosted its stake in shares of American Express by 22.5% in the second quarter. Titus Wealth Management now owns 2,722 shares of the payment services company’s stock worth $267,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of American Express by 5.8% in the second quarter. Parallel Advisors LLC now owns 9,441 shares of the payment services company’s stock worth $925,000 after buying an additional 516 shares during the last quarter. Legacy Advisors LLC boosted its stake in shares of American Express by 25.6% in the second quarter. Legacy Advisors LLC now owns 2,606 shares of the payment services company’s stock worth $255,000 after buying an additional 531 shares during the last quarter. Finally, Buckingham Asset Management LLC boosted its stake in shares of American Express by 8.2% in the third quarter. Buckingham Asset Management LLC now owns 7,810 shares of the payment services company’s stock worth $832,000 after buying an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.
In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the completion of the transaction, the chairman now owns 209,957 shares of the company’s stock, valued at $21,801,934.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of American Express stock in a transaction on Thursday, August 30th. The shares were purchased at an average cost of $0.17 per share, with a total value of $3,424,160.91. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.
A number of analysts have recently commented on AXP shares. Jefferies Financial Group restated a “hold” rating and issued a $105.00 target price on shares of American Express in a research note on Monday, July 16th. BMO Capital Markets upped their target price on American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 19th. Oppenheimer set a $113.00 target price on American Express and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Royal Bank of Canada restated a “sell” rating and issued a $87.00 target price on shares of American Express in a research note on Thursday, July 19th. Finally, UBS Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $112.70.
NYSE AXP opened at $108.28 on Friday. The stock has a market capitalization of $91.67 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.06. American Express has a twelve month low of $87.54 and a twelve month high of $111.77. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.58.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, equities research analysts expect that American Express will post 7.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio is presently 26.58%.
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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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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