South State Corp lessened its holdings in American Express Company (NYSE:AXP) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,921 shares of the payment services company’s stock after selling 1,832 shares during the period. South State Corp’s holdings in American Express were worth $4,037,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of AXP. Matthew Goff Investment Advisor LLC increased its holdings in American Express by 7.3% in the 2nd quarter. Matthew Goff Investment Advisor LLC now owns 34,495 shares of the payment services company’s stock worth $2,906,000 after acquiring an additional 2,347 shares in the last quarter. Stephens Inc. AR grew its holdings in American Express by 0.3% during the 2nd quarter. Stephens Inc. AR now owns 65,649 shares of the payment services company’s stock valued at $5,530,000 after buying 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. Finally, 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. 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 quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $81,504.84, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. American Express Company has a twelve month low of $70.77 and a twelve month high of $96.90.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The company 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 quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. equities research analysts anticipate that American Express Company will post 5.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio is presently 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 upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research 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 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 company currently has a consensus rating of “Hold” and an average price target of $91.56.
In other news, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,345 shares of company stock valued at $13,716,103. 0.67% of the stock is owned by company insiders.
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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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