Bremer Bank National Association bought a new position in shares of American Express (NYSE:AXP) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 4,066 shares of the payment services company’s stock, valued at approximately $477,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pearl River Capital LLC purchased a new position in American Express in the fourth quarter worth approximately $25,000. JNBA Financial Advisors purchased a new position in American Express in the fourth quarter worth approximately $26,000. Camarda Financial Advisors LLC purchased a new position in American Express in the first quarter worth approximately $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of American Express during the 1st quarter worth approximately $28,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in shares of American Express during the 4th quarter worth approximately $31,000. Institutional investors own 83.65% of the company’s stock.
In other news, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the completion of the transaction, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laureen Seeger sold 44,584 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total value of $5,316,642.00. Following the transaction, the insider now owns 80,375 shares of the company’s stock, valued at $9,584,718.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,297 shares of company stock valued at $21,062,015. Corporate insiders own 0.21% of the company’s stock.
AXP has been the subject of several recent analyst reports. ValuEngine upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Stephens set a $131.00 target price on shares of American Express and gave the company a “buy” rating in a report on Monday, May 20th. Oppenheimer set a $119.00 target price on shares of American Express and gave the company a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 target price (up from $115.00) on shares of American Express in a report on Tuesday, March 12th. Finally, Morgan Stanley lifted their target price on shares of American Express from $113.00 to $123.00 and gave the company 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 given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $116.63.
Shares of NYSE:AXP traded down $0.31 on Wednesday, reaching $122.92. 363,176 shares of the company were exchanged, compared to its average volume of 3,419,746. 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 has a 1-year low of $89.05 and a 1-year high of $124.74. The stock has a market cap of $102.56 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.40 and a beta of 1.06.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, topping the consensus estimate of $2.00 by $0.01. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. The business’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 firm earned $1.86 EPS. Equities analysts anticipate that American Express will post 8.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date 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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