Franklin Street Advisors Inc. NC cut its holdings in American Express Company (NYSE:AXP) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,055 shares of the payment services company’s stock after selling 1,235 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in American Express were worth $5,567,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of American Express by 30.4% in 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 buying an additional 300 shares during the last quarter. Zions Bancorporation lifted its stake in shares of American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after buying an additional 1,205 shares during the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express in the second quarter worth $115,000. MV Capital Management Inc. lifted its stake in shares of American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after buying an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In other news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the insider now owns 28,720 shares in the company, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold a total of 442,869 shares of company stock worth $42,823,869 in the last 90 days. 0.67% of the stock is owned by corporate insiders.
Shares of American Express Company (AXP) opened at $100.97 on Friday. The stock has a market cap of $87,433.27, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a fifty-two week low of $75.39 and a fifty-two week high of $101.65.
American Express (NYSE:AXP) last announced its quarterly 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 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 analyst estimates of $8.31 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. equities research analysts forecast that American Express Company will post 5.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders 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 annualized dividend and a dividend yield of 1.39%. American Express’s dividend payout ratio is presently 26.97%.
A number of brokerages have recently weighed in on AXP. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays set a $119.00 price objective on shares of American Express and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research report on Friday. Bank of America boosted their target price on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Jefferies Group reaffirmed 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. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $98.96.
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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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