Paragon Capital Management Ltd purchased a new position in American Express Company (NYSE:AXP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,826 shares of the payment services company’s stock, valued at approximately $256,000.
Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC lifted its holdings in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of 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 valued at $109,000 after buying an additional 300 shares during the period. Capital Analysts LLC acquired a new stake in shares of American Express in the second quarter valued at $115,000. Westside Investment Management Inc. lifted its holdings in shares of 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 valued at $119,000 after buying an additional 410 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in shares of 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 valued at $122,000 after buying an additional 49 shares during the period. 83.35% of the stock is owned by institutional investors.
American Express Company (NYSE AXP) opened at $98.55 on Friday. The firm has a market capitalization of $85,567.07, a price-to-earnings ratio of 18.89, a P/E/G ratio of 1.64 and a beta of 1.22. American Express Company has a 52-week low of $73.11 and a 52-week high of $99.75. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is 26.97%.
In related news, insider James Peter Bush sold 13,548 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the transaction, the insider now directly owns 90,052 shares of the company’s stock, valued at $8,789,075.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders have sold 211,199 shares of company stock worth $19,978,410 over the last three months. 0.67% of the stock is owned by insiders.
Several analysts have recently weighed in on AXP shares. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Tuesday, August 29th. Morgan Stanley cut their price objective on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Buckingham Research assumed coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective for the company. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $79.00 target price on shares of American Express in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus target price of $91.56.
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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