Davis Selected Advisers Trims Stake in American Express Company (AXP)

Davis Selected Advisers decreased its holdings in shares of American Express Company (NYSE:AXP) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,904,535 shares of the payment services company’s stock after selling 392,628 shares during the period. American Express makes up 4.2% of Davis Selected Advisers’ portfolio, making the stock its 7th biggest holding. Davis Selected Advisers owned 1.26% of American Express worth $986,229,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA boosted 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 worth $109,000 after buying an additional 300 shares during the period. Capital Analysts LLC acquired a new position in shares of American Express in the second quarter worth about $115,000. Zions Bancorporation boosted its holdings in shares of American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after buying an additional 1,205 shares during the period. MV Capital Management Inc. boosted 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 worth $122,000 after buying an additional 49 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares during the period. Institutional investors own 83.35% of the company’s stock.

Several research analysts have commented on AXP shares. Credit Suisse Group reiterated a “sell” rating and issued a $79.00 target price on shares of American Express in a report on Wednesday, October 4th. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target for the company in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Wednesday, November 1st. Wells Fargo & Co assumed coverage on shares of American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price target for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $116.00 price target on shares of American Express in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $97.84.

American Express Company (NYSE AXP) opened at $101.22 on Thursday. The firm has a market cap of $87,860.00, a P/E ratio of 19.54, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 52-week low of $75.39 and a 52-week high of $101.65.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The firm had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. equities analysts expect that American Express Company will post 5.86 EPS for the current year.

The firm also recently disclosed 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 1.38%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is presently 27.03%.

In related news, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 442,869 shares of company stock worth $42,823,869. Insiders own 0.67% of the company’s stock.

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

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