Montag A & Associates Inc. Reduces Stock Holdings in American Express (NYSE:AXP)

Montag A & Associates Inc. decreased its position in American Express (NYSE:AXP) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,689 shares of the payment services company’s stock after selling 8,600 shares during the period. Montag A & Associates Inc.’s holdings in American Express were worth $4,340,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AXP. Fisher Asset Management LLC lifted its position in shares of American Express by 19.8% during the third quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock worth $1,609,248,000 after acquiring an additional 2,252,720 shares in the last quarter. Magellan Asset Management Ltd raised its position in shares of American Express by 212,845.6% in the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after buying an additional 9,575,925 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after buying an additional 6,587,148 shares in the last quarter. Parnassus Investments CA raised its position in shares of American Express by 1.4% in the third quarter. Parnassus Investments CA now owns 6,193,957 shares of the payment services company’s stock worth $732,621,000 after buying an additional 85,419 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of American Express by 5.9% in the second quarter. Invesco Ltd. now owns 5,706,357 shares of the payment services company’s stock worth $704,392,000 after buying an additional 319,389 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

In other news, CEO Stephen J. Squeri sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Pickett sold 2,400 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the transaction, the insider now directly owns 9,788 shares in the company, valued at $1,158,801.32. The disclosure for this sale can be found here. In the last three months, insiders sold 25,820 shares of company stock worth $3,039,511. 0.21% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on AXP shares. Royal Bank of Canada increased their price objective on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Oppenheimer set a $126.00 price objective on American Express and gave the stock a “buy” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price objective on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. set a $122.00 price objective on American Express and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Co set a $140.00 price objective on American Express and gave the stock a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $124.96.

AXP traded up $0.19 during trading on Friday, reaching $121.47. The stock had a trading volume of 1,984,615 shares, compared to its average volume of 3,349,832. The stock has a market cap of $97.19 billion, a PE ratio of 16.57, a PEG ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. American Express has a one year low of $89.05 and a one year high of $129.34. The business has a 50-day moving average of $117.26 and a 200-day moving average of $120.40.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. American Express had a return on equity of 29.68% and a net margin of 16.51%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. Equities research analysts forecast that American Express will post 8.16 EPS for the current fiscal year.

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

Further Reading: Diversification Important in Investing

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply