Cookson Peirce & Co. Inc. reduced its position in American Express (NYSE:AXP – Get Rating) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 98,252 shares of the payment services company’s stock after selling 2,971 shares during the period. Cookson Peirce & Co. Inc.’s holdings in American Express were worth $13,255,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Legal & General Group Plc raised its stake in shares of American Express by 2.4% during the second quarter. Legal & General Group Plc now owns 4,928,905 shares of the payment services company’s stock worth $683,249,000 after buying an additional 115,738 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in American Express by 29.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 193,646 shares of the payment services company’s stock worth $26,840,000 after acquiring an additional 44,222 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of American Express by 4.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 22,653 shares of the payment services company’s stock valued at $3,056,000 after acquiring an additional 1,052 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of American Express by 9.4% in the 3rd quarter. Gradient Investments LLC now owns 33,110 shares of the payment services company’s stock valued at $4,467,000 after purchasing an additional 2,839 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of American Express by 3.6% during the third quarter. Whittier Trust Co. now owns 75,021 shares of the payment services company’s stock worth $10,121,000 after purchasing an additional 2,606 shares during the period. Institutional investors own 83.30% of the company’s stock.
Analysts Set New Price Targets
AXP has been the topic of several analyst reports. Atlantic Securities cut their target price on American Express from $175.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 12th. Piper Sandler boosted their price objective on shares of American Express from $159.00 to $179.00 and gave the company a “neutral” rating in a report on Monday. Bank of America increased their target price on shares of American Express from $172.00 to $205.00 in a report on Sunday. Redburn Partners began coverage on shares of American Express in a report on Tuesday, November 29th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada raised their price objective on American Express from $175.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $177.00.
American Express Stock Down 0.4 %
American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The payment services company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.11). American Express had a net margin of 14.16% and a return on equity of 31.67%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $14.25 billion. During the same quarter in the previous year, the business earned $2.18 EPS. American Express’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts predict that American Express will post 11.16 earnings per share for the current fiscal year.
American Express Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, January 5th. American Express’s dividend payout ratio is currently 20.90%.
In other news, Director Walter Joseph Clayton III bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $149.27 per share, for a total transaction of $149,270.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $149,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of American Express stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $154.23, for a total transaction of $2,522,277.42. Following the completion of the sale, the insider now owns 99,024 shares of the company’s stock, valued at approximately $15,272,471.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter Joseph Clayton III purchased 1,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $149.27 per share, for a total transaction of $149,270.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $149,270. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.
About American Express
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.
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