Cambiar Investors LLC lessened its holdings in shares of American Express Company (NYSE:AXP) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 490,157 shares of the payment services company’s stock after selling 78,080 shares during the period. Cambiar Investors LLC owned approximately 0.06% of American Express worth $44,340,000 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 grew its position in shares of American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC acquired a new stake in shares of American Express during the 2nd quarter valued at about $115,000. Westside Investment Management Inc. grew its position in shares of American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares during the period. Finally, MV Capital Management Inc. grew its position in shares of American Express by 3.5% during the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In related news, insider Anre D. Williams sold 30,761 shares of the business’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 completion of the transaction, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the transaction, the insider now owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 442,869 shares of company stock valued at $42,823,869. Insiders own 0.67% of the company’s stock.
AXP has been the topic of a number of analyst reports. Bank of America restated a “buy” rating and set a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Oppenheimer set a $99.00 price objective on American Express and gave the stock a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 price objective on shares of American Express in a report on Friday, December 22nd. Finally, Deutsche Bank initiated coverage on American Express in a report on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 price objective on the stock. Two 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. American Express currently has an average rating of “Hold” and an average price target of $98.96.
Shares of American Express Company (NYSE AXP) traded up $0.24 during midday trading on Friday, reaching $100.97. The company’s stock had a trading volume of 3,204,200 shares, compared to its average volume of 3,200,000. The stock has a market capitalization of $87,640.00, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. 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 52 week low of $75.39 and a 52 week high of $101.65.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. analysts predict that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid 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 1.39%. American Express’s payout ratio is currently 27.03%.
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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