Janney Montgomery Scott LLC lifted its position in American Express (NYSE:AXP) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,688 shares of the payment services company’s stock after purchasing an additional 19,881 shares during the quarter. Janney Montgomery Scott LLC’s holdings in American Express were worth $14,662,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. Destination Wealth Management raised its stake in shares of American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after purchasing an additional 660 shares in the last quarter. Tuttle Tactical Management acquired a new position in shares of American Express in the second quarter valued at $105,000. Lenox Wealth Advisors LLC raised its stake in shares of American Express by 1,173.8% in the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 986 shares in the last quarter. Sageworth Trust Co raised its stake in shares of American Express by 455.6% in the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC acquired a new position in shares of American Express in the second quarter valued at $148,000. Institutional investors and hedge funds own 82.98% of the company’s stock.
Several research analysts have issued reports on the company. Oppenheimer set a $114.00 price objective on American Express and gave the stock a “buy” rating in a research note on Monday, November 5th. Stephens set a $131.00 price objective on American Express and gave the stock a “buy” rating in a research note on Saturday, October 20th. BMO Capital Markets increased their price objective on American Express from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, October 19th. Bank of America set a $125.00 price objective on American Express and gave the stock a “buy” rating in a research note on Friday, October 19th. Finally, Morgan Stanley increased their price objective on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $112.70.
In other news, CFO Scott Murcray purchased 350,000 shares of the firm’s stock in a transaction that occurred on Monday, September 3rd. The shares were acquired at an average price of $0.28 per share, for a total transaction of $98,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo purchased 20,142,123 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.
Shares of NYSE:AXP opened at $108.28 on Friday. American Express has a twelve month low of $87.54 and a twelve month high of $111.77. The firm has a market capitalization of $91.67 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.88 and a quick ratio of 1.88.
American Express (NYSE:AXP) last announced its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the company posted $1.50 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts anticipate that American Express will post 7.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Friday, October 5th were paid a $0.39 dividend. The ex-dividend date was Thursday, October 4th. This is a positive change from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.44%. American Express’s dividend payout ratio (DPR) is 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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