Bbva Compass Bancshares Inc. reduced its stake in American Express Company (NYSE:AXP) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,862 shares of the payment services company’s stock after selling 4,717 shares during the period. Bbva Compass Bancshares Inc.’s holdings in American Express were worth $8,310,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. MCF Advisors LLC grew its holdings in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares during the period. Capital Analysts LLC purchased a new stake in American Express in the second quarter worth about $115,000. MV Capital Management Inc. grew its holdings in American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after purchasing an additional 49 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the period. 83.51% of the stock is owned by institutional investors.
In related news, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 211,199 shares of company stock worth $19,978,410 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.
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, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. analysts expect that American Express Company will post 5.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is currently 26.97%.
A number of brokerages have weighed in on AXP. Bank of America upped their price objective on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and issued a $93.00 price objective (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Wednesday, November 1st. Finally, Wells Fargo & Company initiated coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $91.56.
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American Express Company 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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