Rational Advisors LLC acquired a new stake in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,600 shares of the payment services company’s stock, valued at approximately $303,000.
A number of other large investors have also bought and sold shares of AXP. MCF Advisors LLC lifted its stake in American Express by 0.5% during the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after purchasing an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in American Express during the first quarter worth about $112,000. SRS Capital Advisors Inc. lifted its stake in American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the last quarter. 82.78% of the stock is owned by institutional investors.
In other American Express news, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the sale, the chief executive officer now owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. In the last three months, insiders sold 959,617 shares of company stock valued at $81,377,425. 0.67% of the stock is owned by insiders.
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AXP has been the subject of several research analyst reports. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $70.00 to $82.00 in a research note on Tuesday, June 20th. Instinet reaffirmed an “underperform” rating and set a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Credit Suisse Group reaffirmed an “underperform” rating and set a $80.00 price target on shares of American Express in a research note on Wednesday, July 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.48.
American Express Company (NYSE AXP) opened at 91.55 on Monday. The company’s 50-day moving average price is $87.34 and its 200-day moving average price is $82.57. The stock has a market cap of $80.93 billion, a P/E ratio of 18.78 and a beta of 1.21. American Express Company has a one year low of $59.50 and a one year high of $91.64.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. Analysts forecast that American Express Company will post $5.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 annualized dividend and a yield of 1.53%. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is presently 28.63%.
American Express announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
American Express 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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