Cohen & Steers Inc. lowered its holdings in American Express (NYSE:AXP) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,651 shares of the payment services company’s stock after selling 8,014 shares during the quarter. Cohen & Steers Inc.’s holdings in American Express were worth $9,594,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new stake in American Express in the 4th quarter valued at approximately $25,000. JNBA Financial Advisors acquired a new stake in American Express in the 4th quarter valued at approximately $26,000. Capital Investment Advisory Services LLC acquired a new stake in American Express in the 4th quarter valued at approximately $37,000. Vigilant Capital Management LLC acquired a new stake in American Express in the 4th quarter valued at approximately $38,000. Finally, WESPAC Advisors SoCal LLC grew its holdings in shares of American Express by 305.0% during the 4th quarter. WESPAC Advisors SoCal LLC now owns 405 shares of the payment services company’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. 84.07% of the stock is currently owned by hedge funds and other institutional investors.
American Express stock opened at $112.35 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.62. The company has a market cap of $93.13 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.29 and a beta of 1.11. American Express has a one year low of $89.05 and a one year high of $114.55.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). The company had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.54 billion. American Express had a return on equity of 30.35% and a net margin of 17.08%. American Express’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. On average, equities research analysts forecast that American Express will post 8.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.39%. American Express’s dividend payout ratio (DPR) is presently 21.28%.
In related news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $103.02, for a total transaction of $1,287,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the transaction, the executive vice president now owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.
AXP has been the topic of several recent research reports. Bank of America set a $108.00 price objective on American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective on the stock in a report on Tuesday, January 29th. Morgan Stanley decreased their price objective on American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a report on Friday, December 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $112.25.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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