Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in American Express Company (NYSE:AXP) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,320,534 shares of the payment services company’s stock after selling 20,061 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of American Express worth $195,482,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. MCF Advisors LLC boosted its holdings in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of American Express by 30.4% in 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 buying an additional 300 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after buying an additional 49 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after buying an additional 410 shares during the last quarter. 82.77% of the stock is currently owned by institutional investors.
Shares of American Express Company (AXP) opened at 91.96 on Tuesday. The company has a 50 day moving average price of $88.38 and a 200 day moving average price of $83.14. American Express Company has a 12-month low of $59.78 and a 12-month high of $93.35. The company has a market capitalization of $81.29 billion, a P/E ratio of 18.86 and a beta of 1.21.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. Equities analysts anticipate that American Express Company will post $5.74 EPS for the current year.
American Express declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is 28.63%.
A number of equities analysts recently issued reports on the stock. Compass Point downgraded shares of American Express from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. They noted that the move was a valuation call. Buckingham Research initiated coverage on shares of American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price on the stock. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. BidaskClub cut shares of American Express from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Bank of America Corporation restated a “buy” rating and set a $102.00 target price on shares of American Express in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $87.69.
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In related news, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Insiders have sold a total of 959,617 shares of company stock valued at $81,377,425 over the last 90 days. 0.67% of the stock is currently owned by company insiders.
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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