American Express (AXP) Shares Sold by Burney Co.

Burney Co. reduced its stake in shares of American Express (NYSE:AXP) by 7.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,954 shares of the payment services company’s stock after selling 752 shares during the period. Burney Co.’s holdings in American Express were worth $928,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Greatmark Investment Partners Inc. lifted its holdings in shares of American Express by 0.6% during the 1st quarter. Greatmark Investment Partners Inc. now owns 83,984 shares of the payment services company’s stock worth $7,834,000 after acquiring an additional 526 shares during the last quarter. Comerica Securities Inc. lifted its holdings in shares of American Express by 12.6% during the 1st quarter. Comerica Securities Inc. now owns 4,756 shares of the payment services company’s stock worth $444,000 after acquiring an additional 531 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its holdings in shares of American Express by 12.5% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 4,918 shares of the payment services company’s stock worth $488,000 after acquiring an additional 546 shares during the last quarter. Allen Capital Group LLC lifted its holdings in shares of American Express by 10.1% during the 1st quarter. Allen Capital Group LLC now owns 6,050 shares of the payment services company’s stock worth $564,000 after acquiring an additional 556 shares during the last quarter. Finally, Braun Stacey Associates Inc. lifted its holdings in shares of American Express by 12.3% during the 4th quarter. Braun Stacey Associates Inc. now owns 5,250 shares of the payment services company’s stock worth $521,000 after acquiring an additional 575 shares during the last quarter. 85.03% of the stock is owned by institutional investors.

In related news, Vice Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total transaction of $1,225,625.00. Following the transaction, the insider now owns 203,920 shares in the company, valued at $19,994,356. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider L Kevin Cox sold 2,975 shares of the business’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $99.50, for a total transaction of $296,012.50. Following the transaction, the insider now owns 19,249 shares in the company, valued at approximately $1,915,275.50. The disclosure for this sale can be found here. Insiders sold 58,252 shares of company stock worth $5,800,027 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

American Express opened at $101.22 on Friday, MarketBeat.com reports. American Express has a 12-month low of $100.38 and a 12-month high of $101.24. The stock has a market capitalization of $86.67 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.36 and a beta of 1.13. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.90 and a current ratio of 1.90.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.15. American Express had a net margin of 8.79% and a return on equity of 28.41%. The firm had revenue of $9.72 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities analysts predict that American Express will post 7.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, July 5th. American Express’s payout ratio is 23.85%.

A number of equities analysts recently commented on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $94.00 target price on shares of American Express in a research report on Friday, March 16th. Citigroup assumed coverage on shares of American Express in a research report on Thursday, April 5th. They issued a “buy” rating and a $110.00 target price on the stock. Nomura upgraded shares of American Express from a “neutral” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Monday, February 12th. Barclays lifted their target price on shares of American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Finally, Oppenheimer set a $117.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $107.45.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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