Braun Stacey Associates Inc. boosted its holdings in American Express (NYSE:AXP) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,204 shares of the payment services company’s stock after purchasing an additional 20,698 shares during the quarter. Braun Stacey Associates Inc.’s holdings in American Express were worth $15,980,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of American Express by 0.7% during the third quarter. Vanguard Group Inc now owns 49,872,420 shares of the payment services company’s stock valued at $5,310,914,000 after acquiring an additional 364,282 shares in the last quarter. BlackRock Inc. grew its holdings in American Express by 0.7% during the fourth quarter. BlackRock Inc. now owns 45,477,488 shares of the payment services company’s stock worth $4,334,916,000 after buying an additional 300,504 shares in the last quarter. FMR LLC grew its holdings in American Express by 49.5% during the fourth quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock worth $2,343,332,000 after buying an additional 8,136,470 shares in the last quarter. Fisher Asset Management LLC grew its holdings in American Express by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 10,681,552 shares of the payment services company’s stock worth $1,018,166,000 after buying an additional 323,809 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in American Express by 1.9% during the fourth quarter. Northern Trust Corp now owns 9,705,630 shares of the payment services company’s stock worth $925,141,000 after buying an additional 180,361 shares in the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.
Shares of NYSE:AXP traded down $0.54 during midday trading on Wednesday, reaching $120.01. 2,853,241 shares of the company traded hands, compared to its average volume of 3,514,537. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 12 month low of $89.05 and a 12 month high of $120.88. The firm has a market cap of $100.46 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.37 and a beta of 1.13.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.01. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 EPS. Equities analysts predict that American Express will post 8.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.30%. American Express’s dividend payout ratio is currently 21.28%.
AXP has been the subject of several recent research reports. ValuEngine upgraded American Express from a “hold” rating to a “buy” rating in a report on Monday. Stephens set a $131.00 price target on American Express and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Co reiterated a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of American Express in a report on Tuesday, March 12th. Oppenheimer set a $119.00 price target on American Express and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley upped their price target on American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus target price of $116.63.
In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the transaction, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael John O’neill sold 15,749 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total value of $1,794,441.06. Following the completion of the transaction, the insider now owns 69,941 shares in the company, valued at $7,969,077.54. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.
American Express Profile
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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