Raymond James Trust N.A. lessened its holdings in American Express Company (NYSE:AXP) by 45.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,411 shares of the payment services company’s stock after selling 24,279 shares during the period. Raymond James Trust N.A.’s holdings in American Express were worth $2,477,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of AXP. Stephens Inc. AR increased its holdings in American Express by 0.3% in the 2nd quarter. Stephens Inc. AR now owns 65,649 shares of the payment services company’s stock worth $5,530,000 after acquiring an additional 204 shares in the last quarter. Summit Global Investments grew its holdings in American Express by 3.0% during the 2nd quarter. Summit Global Investments now owns 69,623 shares of the payment services company’s stock valued at $5,865,000 after buying an additional 2,032 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in American Express by 2.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 24,131 shares of the payment services company’s stock valued at $2,033,000 after buying an additional 591 shares in the last quarter. Dai Ichi Life Insurance Company Ltd grew its holdings in American Express by 3.5% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 44,162 shares of the payment services company’s stock valued at $3,720,000 after buying an additional 1,473 shares in the last quarter. Finally, Holowesko Partners Ltd. grew its holdings in American Express by 105.7% during the 2nd quarter. Holowesko Partners Ltd. now owns 1,485,000 shares of the payment services company’s stock valued at $125,096,000 after buying an additional 763,000 shares in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $93.76 on Wednesday. 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 12-month low of $70.77 and a 12-month high of $96.90. The company has a market capitalization of $81,504.84, a P/E ratio of 17.99, a P/E/G ratio of 1.57 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. analysts predict that American Express Company will post 5.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. American Express’s dividend payout ratio is currently 26.97%.
A number of research firms recently weighed in on AXP. Barclays PLC reissued a “buy” rating and issued a $83.00 target price on shares of American Express in a report on Thursday, July 20th. Guggenheim reissued a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Bank of America Corporation restated a “buy” rating and issued a $102.00 price target on shares of American Express in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus 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 on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the transaction, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,345 shares of company stock valued at $13,716,103. Company insiders own 0.67% of the company’s stock.
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American Express 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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