Mutual of Omaha Bank Wealth Management decreased its position in American Express Company (NYSE:AXP) by 82.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,294 shares of the payment services company’s stock after selling 16,000 shares during the quarter. Mutual of Omaha Bank Wealth Management’s holdings in American Express were worth $298,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Eagle Ridge Investment Management bought a new stake in shares of American Express in the third quarter valued at approximately $461,000. Paragon Capital Management Ltd bought a new stake in shares of American Express in the third quarter valued at approximately $256,000. Pictet Asset Management Ltd. boosted its stake in shares of American Express by 15.7% in the third quarter. Pictet Asset Management Ltd. now owns 1,148,919 shares of the payment services company’s stock valued at $103,931,000 after buying an additional 155,820 shares during the period. Calamos Advisors LLC boosted its stake in shares of American Express by 1.3% in the third quarter. Calamos Advisors LLC now owns 326,639 shares of the payment services company’s stock valued at $29,548,000 after buying an additional 4,097 shares during the period. Finally, Rehmann Capital Advisory Group boosted its stake in shares of American Express by 26.1% in the third quarter. Rehmann Capital Advisory Group now owns 7,145 shares of the payment services company’s stock valued at $646,000 after buying an additional 1,480 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.
Several equities research analysts have weighed in on AXP shares. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Morgan Stanley cut their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Oppenheimer set a $99.00 target price on American Express and gave the stock a “buy” rating in a research note on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $91.56.
In related news, insider Anre D. Williams sold 30,761 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The disclosure for this sale can be found here. Insiders have sold 211,199 shares of company stock valued at $19,978,410 over the last quarter. Company insiders own 0.67% of the company’s stock.
American Express Company (NYSE:AXP) opened at $98.55 on Friday. The stock has a market cap of $85,567.07, a price-to-earnings ratio of 18.89, a PEG ratio of 1.64 and a beta of 1.22. 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 1-year low of $73.11 and a 1-year high of $99.75.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion during 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%. The company’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 earned $1.24 earnings per share. research analysts predict that American Express Company will post 5.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. American Express’s dividend payout ratio (DPR) is presently 26.97%.
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American Express 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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