Olstein Capital Management L.P. lowered its stake in American Express Company (NYSE:AXP) by 33.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,000 shares of the payment services company’s stock after selling 33,306 shares during the quarter. Olstein Capital Management L.P.’s holdings in American Express were worth $5,970,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of AXP. Vanguard Group Inc. boosted its position in shares of American Express by 1.5% during 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 acquiring an additional 731,428 shares during the last quarter. BlackRock Inc. boosted its position in shares of American Express by 1.1% during 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 acquiring an additional 508,030 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of American Express by 0.6% during 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 acquiring an additional 103,546 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of American Express by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock valued at $1,044,577,000 after acquiring an additional 300,042 shares during the last quarter. Finally, Veritas Asset Management LLP boosted its position in shares of American Express by 7.1% during the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after acquiring an additional 735,952 shares during the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
American Express Company (AXP) opened at $100.97 on Friday. 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 12 month low of $75.39 and a 12 month high of $101.65. The stock has a market capitalization of $87,640.00, a P/E ratio of 19.49, a PEG ratio of 1.49 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 the Thomson Reuters’ consensus estimate 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 for 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 business’s revenue was up 8.5% compared to the same quarter last year. sell-side analysts anticipate that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors 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 annualized dividend and a dividend yield of 1.39%. American Express’s dividend payout ratio is presently 27.03%.
In related news, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Susan Sobbott sold 5,500 shares of American Express stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The disclosure for this sale can be found here. Insiders have sold 442,869 shares of company stock worth $42,823,869 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.
AXP has been the subject of a number of research analyst reports. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Bank of America reiterated a “buy” rating and set a $102.00 price target on shares of American Express in a research report on Monday, October 9th. Morgan Stanley lifted their price target on American Express from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday, October 19th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $115.00 price objective (up from $105.00) on shares of American Express in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $98.96.
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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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