MJP Associates Inc. ADV acquired a new position in American Express (NYSE: AXP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,894 shares of the payment services company stock, valued at approximately $ 354,000.
A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Spire Wealth Management grew its holdings in shares of American Express by 109.7% during the fourth quarter. Spire Wealth Management now owns 9,090 shares of the payment services company stock valued at $ 1,487,000 after buying an additional 4,755 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of American Express by 275.0% during the fourth quarter. Van ECK Associates Corp now owns 58,352 shares of the payment services company stock valued at $ 9,546,000 after buying an additional 42,792 shares during the last quarter. FDx Advisors Inc. grew its holdings in shares of American Express by 15.3% during the fourth quarter. FDx Advisors Inc. now owns 9,489 shares of the payment services company stock valued at $ 1,552,000 after buying an additional 1,256 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of American Express by 15.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,298 shares of the payment services company stock valued at $ 2,340,000 after buying an additional 1,946 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of American Express by 2.4% during the fourth quarter. Fifth Third Bancorp now owns 226,124 shares of the payment services company stock valued at $ 36,994,000 after buying an additional 5,256 shares during the last quarter. Institutional investors and hedge funds own 85.49% of the company stock.
In other American Express news, CEO Stephen J. Squeri sold 48,160 shares of American Express stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $ 178.38, for a total value of $ 8,590,780.80. Following the sale, the chief executive officer now directly owns 31,285 shares in the company, valued at approximately $ 5,580,618.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Theodore Leonsis sold 4,005 shares of American Express stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $ 166.63, for a total transaction of $ 667,353.15. The disclosure for this sale can be found here. Insiders own 0.11% of the company stock.
Several equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of American Express in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America raised their target price on shares of American Express from $ 204.00 to $ 206.00 in a report on Thursday, March 17th. Edward Jones upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Oppenheimer restated a “buy” rating and issued a $ 212.00 target price on shares of American Express in a report on Friday, June 10th. Finally, Citigroup raised their target price on shares of American Express from $ 187.00 to $ 190.00 and gave the stock a “neutral” rating in a report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $ 194.17.
Shares of AXP stock opened at $ 144.29 on Tuesday. The company has a market capitalization of $ 108.66 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.13 and a beta of 1.08. American Express has a one year low of $ 136.49 and a one year high of $ 199.55. The company fifty day moving average price is $ 162.52 and its 200-day moving average price is $ 172.58. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63.
American Express (NYSE: AXP – Get Rating) last announced its quarterly earnings data on Friday, April 22nd. The payment services company reported $ 2.73 EPS for the quarter, beating the consensus estimate of $ 2.43 by $ 0.30. The firm had revenue of $ 11.74 billion for the quarter, compared to the consensus estimate of $ 11.66 billion. American Express had a net margin of 17.49% and a return on equity of 33.35%. The company revenue was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $ 1.74 EPS. Equities research analysts expect that American Express will post 9.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 1st will be given a dividend of $ 0.52 per share. The ex-dividend date is Thursday, June 30th. This represents a $ 2.08 annualized dividend and a dividend yield of 1.44%. American Express’s payout ratio is 20.84%.
American Express Company Profile: (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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