Gilman Hill Asset Management LLC lessened its holdings in American Express (NYSE:AXP) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,224 shares of the payment services company’s stock after selling 1,470 shares during the period. Gilman Hill Asset Management LLC’s holdings in American Express were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wexford Capital LP bought a new stake in American Express in the 2nd quarter valued at $102,000. MADDEN SECURITIES Corp bought a new position in American Express during the 3rd quarter worth $261,000. GW Henssler & Associates Ltd. bought a new position in American Express during the 2nd quarter worth $203,000. Global Retirement Partners LLC increased its position in American Express by 7.5% during the 2nd quarter. Global Retirement Partners LLC now owns 7,539 shares of the payment services company’s stock worth $718,000 after buying an additional 523 shares during the period. Finally, Cypress Capital Group bought a new position in American Express during the 2nd quarter worth $237,000. Institutional investors and hedge funds own 84.14% of the company’s stock.
Shares of AXP stock opened at $104.91 on Friday. The business’s 50-day moving average price is $102.69 and its 200-day moving average price is $95.78. American Express has a 12 month low of $67.00 and a 12 month high of $138.13. The firm has a market capitalization of $84.47 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.42 and a beta of 1.14. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 2.32.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. American Express had a return on equity of 24.08% and a net margin of 10.02%. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the firm posted $2.07 earnings per share. The business’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 4.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, October 8th. American Express’s payout ratio is 20.98%.
Several research firms have weighed in on AXP. BofA Securities cut American Express from a “neutral” rating to an “underperform” rating in a research report on Wednesday, September 23rd. Wolfe Research began coverage on American Express in a research report on Friday, July 31st. They set an “outperform” rating on the stock. Wells Fargo & Company reiterated a “sell” rating and set a $90.00 price objective on shares of American Express in a research report on Wednesday, September 30th. Morgan Stanley increased their price objective on American Express from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Finally, Bank of America cut American Express from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $106.00 to $95.00 in a research report on Wednesday, September 23rd. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $104.63.
In related news, insider Denise Pickett sold 2,864 shares of American Express stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $96.62, for a total value of $276,719.68. Following the transaction, the insider now directly owns 10,202 shares of the company’s stock, valued at $985,717.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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