Raymond James Trust N.A. lowered its stake in shares of American Express (NYSE:AXP) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,433 shares of the payment services company’s stock after selling 3,840 shares during the period. Raymond James Trust N.A.’s holdings in American Express were worth $2,229,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of American Express by 1.8% in the third quarter. BlackRock Inc. now owns 46,354,047 shares of the payment services company’s stock valued at $4,646,992,000 after purchasing an additional 816,309 shares in the last quarter. SPF Beheer BV boosted its stake in American Express by 345.6% during the 3rd quarter. SPF Beheer BV now owns 802,038 shares of the payment services company’s stock valued at $80,404,000 after purchasing an additional 622,038 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in American Express by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,188,788 shares of the payment services company’s stock valued at $1,121,676,000 after purchasing an additional 617,636 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of American Express by 84.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,090,986 shares of the payment services company’s stock valued at $109,369,000 after buying an additional 500,969 shares during the period. Finally, Artemis Investment Management LLP bought a new position in shares of American Express during the 3rd quarter valued at $38,582,000. 83.54% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Anna Marrs sold 2,064 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $119.56, for a total value of $246,771.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas E. Buckminster sold 14,827 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $96.85, for a total transaction of $1,435,994.95. Following the completion of the sale, the insider now owns 96,633 shares of the company’s stock, valued at approximately $9,358,906.05. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.09). The firm had revenue of $8.75 billion during the quarter, compared to analyst estimates of $8.71 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. American Express’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Analysts expect that American Express will post 4.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 10th. Investors of record on Friday, January 8th will be given a $0.43 dividend. The ex-dividend date is Thursday, January 7th. This represents a $1.72 dividend on an annualized basis and a yield of 1.41%. American Express’s payout ratio is currently 20.98%.
A number of equities analysts recently commented on AXP shares. TheStreet raised American Express from a “c” rating to a “b-” rating in a report on Friday, October 23rd. Morgan Stanley lifted their price target on American Express from $115.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 30th. Bank of America downgraded shares of American Express from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $106.00 to $95.00 in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. lifted their price target on shares of American Express from $97.00 to $106.00 and gave the company an “underweight” rating in a research note on Friday, October 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Tuesday, September 29th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $115.85.
American Express Company Profile
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; expense management products and services; and lifestyle services.
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