RidgeWorth Capital Management LLC increased its stake in shares of American Express Company (NYSE:AXP) by 7,404.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 182,365 shares of the payment services company’s stock after buying an additional 179,935 shares during the period. RidgeWorth Capital Management LLC’s holdings in American Express were worth $14,427,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AXP. SeaBridge Investment Advisors LLC bought a new stake in American Express during the first quarter valued at approximately $100,000. MCF Advisors LLC boosted its stake in American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in American Express during the first quarter valued at approximately $112,000. Capital Guardian Trust Co. boosted its stake in American Express by 23.6% in the fourth quarter. Capital Guardian Trust Co. now owns 1,717 shares of the payment services company’s stock valued at $127,000 after buying an additional 328 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in American Express during the fourth quarter valued at approximately $128,000. 82.60% of the stock is owned by hedge funds and other institutional investors.
American Express Company (NYSE:AXP) opened at 85.52 on Wednesday. American Express Company has a 12-month low of $59.50 and a 12-month high of $85.88. The company has a 50-day moving average price of $82.12 and a 200-day moving average price of $79.15. The stock has a market capitalization of $76.44 billion, a price-to-earnings ratio of 15.44 and a beta of 1.18.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, April 19th. The payment services company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.06. American Express had a net margin of 16.24% and a return on equity of 25.24%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the prior year, the company earned $1.45 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts forecast that American Express Company will post $5.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. American Express’s dividend payout ratio (DPR) is 23.19%.
American Express declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $91.00 price target on shares of American Express in a report on Monday, April 10th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $83.00 price target (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. Instinet reiterated an “underperform” rating and issued a $80.00 price objective on shares of American Express in a research report on Thursday, June 29th. BMO Capital Markets reiterated a “hold” rating and issued a $84.00 price objective on shares of American Express in a research report on Thursday, June 1st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price objective on shares of American Express in a research report on Saturday, April 22nd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $83.53.
In other American Express news, insider Douglas E. Buckminster sold 3,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $79.24, for a total value of $237,720.00. Following the completion of the transaction, the insider now directly owns 55,486 shares of the company’s stock, valued at approximately $4,396,710.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas E. Buckminster sold 46,950 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $80.78, for a total transaction of $3,792,621.00. Following the completion of the transaction, the insider now directly owns 103,676 shares of the company’s stock, valued at $8,374,947.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,850 shares of company stock valued at $4,407,543. 0.67% of the stock is owned by corporate insiders.
About American Express
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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