Victory Capital Management Inc. lifted its position in American Express Company (NYSE:AXP) by 21.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,658 shares of the payment services company’s stock after purchasing an additional 7,668 shares during the quarter. Victory Capital Management Inc.’s holdings in American Express were worth $3,859,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lee Danner & Bass Inc. grew its holdings in shares of American Express by 14.5% in the third quarter. Lee Danner & Bass Inc. now owns 7,729 shares of the payment services company’s stock valued at $699,000 after purchasing an additional 981 shares during the period. Crossmark Global Holdings Inc. purchased a new position in American Express during the third quarter worth about $5,505,000. Honeywell International Inc. boosted its stake in American Express by 24.1% during the third quarter. Honeywell International Inc. now owns 310,300 shares of the payment services company’s stock worth $28,070,000 after buying an additional 60,300 shares during the period. Eagle Ridge Investment Management purchased a new position in American Express during the third quarter worth about $461,000. Finally, Paragon Capital Management Ltd purchased a new position in American Express during the third quarter worth about $256,000. 83.35% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Susan Sobbott sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total transaction of $518,870.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,199 shares of company stock worth $19,978,410. Insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at $98.55 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 1-year low of $73.11 and a 1-year high of $99.75. The firm has a market cap of $85,541.01, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. sell-side analysts expect that American Express Company will post 5.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. American Express’s dividend payout ratio (DPR) is presently 26.97%.
Several research analysts have weighed in on AXP shares. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, August 29th. Morgan Stanley lowered their target price on shares of 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. Buckingham Research initiated coverage on shares of American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price for the company. Finally, Credit Suisse Group reissued a “sell” rating and set a $79.00 price target on shares of American Express in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $91.56.
About American Express
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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