Daiwa Securities Group Inc. decreased its position in shares of American Express (NYSE:AXP) by 19.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 77,335 shares of the payment services company’s stock after selling 18,396 shares during the period. Daiwa Securities Group Inc.’s holdings in American Express were worth $8,453,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AXP. Martingale Asset Management L P lifted its holdings in shares of American Express by 1.7% during the third quarter. Martingale Asset Management L P now owns 528,894 shares of the payment services company’s stock valued at $56,323,000 after acquiring an additional 8,588 shares during the period. Kentucky Retirement Systems acquired a new stake in American Express in the third quarter worth about $6,901,000. TIAA CREF Investment Management LLC increased its position in American Express by 20.2% in the third quarter. TIAA CREF Investment Management LLC now owns 4,588,130 shares of the payment services company’s stock worth $488,590,000 after purchasing an additional 770,558 shares during the period. Nordea Investment Management AB increased its position in American Express by 1.2% in the third quarter. Nordea Investment Management AB now owns 2,456,144 shares of the payment services company’s stock worth $261,555,000 after purchasing an additional 29,238 shares during the period. Finally, B. Riley Wealth Management Inc. acquired a new position in shares of American Express during the 3rd quarter worth about $376,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.
In other news, Chairman Stephen J. Squeri sold 101,964 shares of the business’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 completion of the sale, the chairman now owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total value of $1,794,441.06. Following the completion of the sale, the insider now directly owns 69,941 shares of the company’s stock, valued at approximately $7,969,077.54. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
AXP has been the topic of several recent analyst reports. Morgan Stanley upgraded American Express from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $123.00 to $140.00 in a report on Thursday, April 25th. UBS Group lowered 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. Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 target price on the stock in a report on Tuesday, January 29th. Bank of America reiterated a “neutral” rating and set a $108.00 target price on shares of American Express in a research report on Thursday, March 14th. Finally, DZ Bank downgraded American Express from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average target price of $116.63.
American Express stock traded up $1.08 during mid-day trading on Friday, reaching $119.51. 2,011,236 shares of the company’s stock were exchanged, compared to its average volume of 3,511,031. The firm has a market capitalization of $99.35 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.39 and a beta of 1.13. American Express has a one year low of $89.05 and a one year high of $120.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.63.
American Express (NYSE:AXP) last released its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share (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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.46 billion. During the same period last year, the business posted $1.86 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts predict that American Express will post 8.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio (DPR) is presently 21.28%.
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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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