Calton & Associates Inc. bought a new stake in American Express (NYSE:AXP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,846 shares of the payment services company’s stock, valued at approximately $202,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Vanguard Group Inc raised its position in shares of American Express by 0.7% in 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 purchasing an additional 364,282 shares during the period. BlackRock Inc. raised its position in shares of American Express by 0.7% in the fourth quarter. BlackRock Inc. now owns 45,477,488 shares of the payment services company’s stock valued at $4,334,916,000 after purchasing an additional 300,504 shares during the period. FMR LLC raised its position in shares of American Express by 49.5% in the fourth quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after purchasing an additional 8,136,470 shares during the period. Fisher Asset Management LLC raised its position in shares of American Express by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 10,681,552 shares of the payment services company’s stock valued at $1,018,166,000 after purchasing an additional 323,809 shares during the period. Finally, Northern Trust Corp raised its position in shares of American Express by 1.9% in the fourth quarter. Northern Trust Corp now owns 9,705,630 shares of the payment services company’s stock valued at $925,141,000 after purchasing an additional 180,361 shares during the period. Hedge funds and other institutional investors own 85.91% of the company’s stock.
NYSE:AXP traded down $0.54 during trading hours on Wednesday, hitting $120.01. The company’s stock had a trading volume of 2,853,241 shares, compared to its average volume of 3,514,537. American Express has a twelve month low of $89.05 and a twelve month high of $120.88. The firm has a market capitalization of $100.46 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.63.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.01. American Express had a return on equity of 29.86% and a net margin of 16.60%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts anticipate that American Express will post 8.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.39 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.30%. American Express’s dividend payout ratio is currently 21.28%.
In other American Express news, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 69,941 shares of the company’s stock, valued at $7,969,077.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stephen J. Squeri sold 101,964 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
A number of research firms have recently commented on AXP. ValuEngine raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday. Stephens set a $131.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price target on shares of American Express in a research report on Friday, May 3rd. UBS Group lowered shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target on the stock. in a research report on Monday, April 29th. Finally, Morgan Stanley raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $140.00 target price on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $116.63.
About American Express
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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