Boston Advisors LLC lessened its holdings in American Express Company (NYSE:AXP) by 21.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,536 shares of the payment services company’s stock after selling 680 shares during the period. Boston Advisors LLC’s holdings in American Express were worth $229,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Troy Asset Management Ltd lifted its stake in American Express by 1.1% in the third quarter. Troy Asset Management Ltd now owns 1,597,761 shares of the payment services company’s stock valued at $144,533,000 after purchasing an additional 18,000 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in American Express by 1.2% in the third quarter. Xact Kapitalforvaltning AB now owns 129,984 shares of the payment services company’s stock valued at $11,758,000 after purchasing an additional 1,568 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in American Express by 26.7% in the third quarter. Handelsbanken Fonder AB now owns 190,000 shares of the payment services company’s stock valued at $17,187,000 after purchasing an additional 40,000 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in American Express in the third quarter valued at approximately $1,385,000. Finally, Evermay Wealth Management LLC purchased a new position in American Express in the third quarter valued at approximately $339,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.
Shares of American Express Company (AXP) opened at $98.21 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 1 year low of $72.23 and a 1 year high of $99.75. The stock has a market cap of $85,679.91, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. equities research analysts anticipate that American Express Company will post 5.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.43%. American Express’s dividend payout ratio is currently 26.97%.
A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Tuesday, August 29th. Morgan Stanley lowered their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Buckingham Research assumed coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price on the stock. Finally, Credit Suisse Group reissued a “sell” rating and set a $79.00 target price on shares of American Express in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average target price of $91.56.
In other news, insider Ashwini Gupta sold 90,658 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the sale, the insider now directly owns 289,996 shares in the company, valued at $27,465,521.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Peter Bush sold 13,548 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the sale, the insider now owns 90,052 shares of the company’s stock, valued at $8,789,075.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,199 shares of company stock valued at $19,978,410. 0.67% of the stock is currently owned by company insiders.
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American Express Company 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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