HCR Wealth Advisors acquired a new position in American Express Company (NYSE:AXP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,221 shares of the payment services company’s stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Epoch Investment Partners Inc. purchased a new stake in American Express in the 1st quarter worth approximately $23,057,000. Amalgamated Bank lifted its stake in shares of American Express by 1.9% in the 1st quarter. Amalgamated Bank now owns 53,485 shares of the payment services company’s stock valued at $4,231,000 after purchasing an additional 994 shares during the period. Fiduciary Trust Co. lifted its stake in shares of American Express by 27.0% in the 1st quarter. Fiduciary Trust Co. now owns 85,379 shares of the payment services company’s stock valued at $6,754,000 after purchasing an additional 18,139 shares during the period. Cambria Investment Management L.P. purchased a new position in shares of American Express in the 1st quarter valued at approximately $1,179,000. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of American Express by 20.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 4,322 shares of the payment services company’s stock valued at $338,000 after purchasing an additional 722 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.
A number of research analysts have recently commented on AXP shares. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Morgan Stanley lowered their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Stephens set a $97.00 price objective on American Express and gave the company a “hold” rating in a research report on Tuesday. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Finally, Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $96.68.
In other American Express news, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the sale, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the sale, the insider now directly owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last three months, insiders sold 442,869 shares of company stock valued at $42,823,869. Corporate insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $100.85 on Friday. The company has a market capitalization of $87,540.00, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. American Express Company has a fifty-two week low of $74.82 and a fifty-two week high of $101.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. sell-side analysts expect that American Express Company will post 5.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is 27.03%.
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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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