QV Investors Inc. decreased its holdings in American Express Company (NYSE:AXP) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 694,139 shares of the payment services company’s stock after selling 42,250 shares during the quarter. American Express makes up about 5.3% of QV Investors Inc.’s investment portfolio, making the stock its 6th largest position. QV Investors Inc. owned approximately 0.08% of American Express worth $62,791,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. MCF Advisors LLC raised its position in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after acquiring an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of American Express during the second quarter worth $115,000. MV Capital Management Inc. raised its position in shares of American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after acquiring an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.
A number of research firms have recently weighed in on AXP. Bank of America boosted their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and set a $93.00 target price (up previously from $85.00) on shares of American Express in a research report 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 report on Saturday, August 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company started coverage on American Express in a research report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price for the company. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $91.56.
In other American Express news, insider Ashwini Gupta sold 57,306 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total value of $5,446,362.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Peter Bush sold 13,548 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $97.60, for a total value of $1,322,284.80. Following the completion of the transaction, the insider now directly owns 90,052 shares of the company’s stock, valued at $8,789,075.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,199 shares of company stock valued at $19,978,410. Insiders own 0.67% of the company’s stock.
American Express Company (NYSE AXP) opened at $99.37 on Wednesday. American Express Company has a 52 week low of $73.11 and a 52 week high of $99.75. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $85,931.63, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. equities research analysts predict 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. Shareholders of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.41%. American Express’s payout ratio is 26.97%.
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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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