Baillie Gifford & Co. lessened its holdings in American Express Company (NYSE:AXP) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 898,382 shares of the payment services company’s stock after selling 3,917 shares during the period. Baillie Gifford & Co. owned approximately 0.10% of American Express worth $75,680,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. MCF Advisors LLC increased its holdings in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares during the period. Capital Analysts LLC purchased a new stake in American Express during the 2nd quarter worth about $115,000. SRS Capital Advisors Inc. increased its holdings in American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares during the period. Finally, Westside Investment Management Inc. increased its holdings in American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the period. 84.12% of the stock is currently owned by institutional investors and hedge funds.
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Shares of American Express Company (NYSE AXP) traded up $0.17 during trading hours on Monday, reaching $93.69. 711,695 shares of the company’s stock traded hands, compared to its average volume of 3,629,731. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 52 week low of $69.65 and a 52 week high of $96.90. The firm has a market cap of $81,180.00, a P/E ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. American Express’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. analysts expect that American Express Company will post 5.85 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 5th. American Express’s dividend payout ratio is 27.03%.
In related news, insider Ashwini Gupta sold 90,658 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the transaction, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Insiders have sold 140,845 shares of company stock valued at $13,197,233 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Wednesday, November 1st. Stephens set a $89.00 target price on American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. Buckingham Research initiated coverage on American Express in a research report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 target price for the company. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $91.56.
American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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