Tower Research Capital LLC TRC lifted its stake in shares of American Express (NYSE:AXP) by 79.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,192 shares of the payment services company’s stock after purchasing an additional 4,501 shares during the period. Tower Research Capital LLC TRC’s holdings in American Express were worth $1,012,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in AXP. UBS Asset Management Americas Inc. raised its position in shares of American Express by 59.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock worth $526,879,000 after purchasing an additional 1,968,718 shares during the period. Veritas Asset Management LLP raised its position in shares of American Express by 15.2% during the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after purchasing an additional 1,358,474 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of American Express during the second quarter worth $101,526,000. Janus Henderson Group PLC grew its holdings in shares of American Express by 55.9% during the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after buying an additional 959,824 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of American Express by 373.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,155,096 shares of the payment services company’s stock valued at $114,710,000 after buying an additional 911,306 shares in the last quarter. 84.13% of the stock is currently owned by institutional investors.
In related news, insider James Peter Bush sold 13,356 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the transaction, the insider now owns 100,790 shares of the company’s stock, valued at approximately $9,942,933.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,585 shares of company stock valued at $11,973,047. 0.67% of the stock is currently owned by corporate insiders.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. research analysts expect that American Express will post 7.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.47%. American Express’s dividend payout ratio (DPR) is presently 48.28%.
A number of research analysts have recently weighed in on the company. Oppenheimer set a $117.00 price target on American Express and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Thursday, January 11th. Morgan Stanley lifted their price target on American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Guggenheim downgraded American Express from a “buy” rating to a “neutral” rating and lifted their price target for the company from $98.03 to $102.00 in a report on Monday, January 22nd. Finally, Deutsche Bank assumed coverage on American Express in a report on Tuesday, January 2nd. They set a “buy” rating and a $118.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.26.
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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