State Street Corp lessened its stake in shares of American Express Company (NYSE:AXP) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,572,850 shares of the payment services company’s stock after selling 826,770 shares during the quarter. State Street Corp owned about 4.48% of American Express worth $3,333,620,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC increased its stake in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC acquired a new position in shares of American Express during the second quarter valued at approximately $115,000. SRS Capital Advisors Inc. increased its stake in shares of American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares during the period. Finally, Westside Investment Management Inc. increased its stake in shares of American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.
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Several research firms have issued reports on AXP. Bank of America Corporation lifted their price target on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Jefferies Group LLC restated an “in-line” rating and issued a $93.00 price target (up previously from $85.00) on shares of American Express in a research report on Thursday, October 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 research report on Wednesday, November 1st. Finally, Wells Fargo & Company began coverage on shares of American Express in a research report on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price target on the stock. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $91.56.
In related news, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the transaction, the insider now owns 289,996 shares in the company, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,345 shares of company stock valued at $13,716,103. 0.67% of the stock is owned by company insiders.
Shares of American Express Company (NYSE AXP) opened at $93.82 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 52 week low of $71.38 and a 52 week high of $96.90. The stock has a market cap of $81,947.52, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.57 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the business earned $1.24 EPS. American Express’s quarterly revenue was up 8.5% compared to the same quarter last year. research analysts forecast that American Express Company will post 5.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Thursday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s payout ratio is presently 26.97%.
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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