Goelzer Investment Management Inc. reduced its position in American Express Company (NYSE:AXP) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,610 shares of the payment services company’s stock after selling 14,119 shares during the quarter. Goelzer Investment Management Inc.’s holdings in American Express were worth $4,578,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of American Express by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after purchasing an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its stake in shares of American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after purchasing an additional 508,030 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of American Express by 21.7% in the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after purchasing an additional 3,071,573 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of American Express by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after purchasing an additional 103,546 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in American Express by 2.7% during the third quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after acquiring an additional 300,042 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.
AXP has been the topic of several research analyst reports. Morgan Stanley cut their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Credit Suisse Group reissued a “sell” rating and set a $79.00 target price on shares of American Express in a research note on Wednesday, October 4th. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price on the stock in a research note on Tuesday, October 24th. Finally, Wells Fargo & Company initiated coverage on shares of American Express in a research note on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $91.56.
American Express Company (NYSE:AXP) opened at $97.78 on Thursday. 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 $73.24 and a 1-year high of $99.75. The firm has a market cap of $86,252.79, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 1.66 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 the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. equities analysts forecast that American Express Company will post 5.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.43%. American Express’s payout ratio is 26.97%.
In other American Express news, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,870 shares of company stock worth $33,094,717. Corporate insiders own 0.67% of the company’s stock.
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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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