Jacobs & Co. CA trimmed its holdings in American Express (NYSE:AXP) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,890 shares of the payment services company’s stock after selling 1,195 shares during the quarter. Jacobs & Co. CA’s holdings in American Express were worth $4,425,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of American Express by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. raised its holdings in American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares during the last quarter. Fisher Asset Management LLC raised its holdings in American Express by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock worth $1,179,061,000 after purchasing an additional 325,140 shares during the last quarter. Veritas Asset Management LLP raised its holdings in 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 worth $998,602,000 after purchasing an additional 735,952 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in American Express by 59.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock worth $526,879,000 after purchasing an additional 1,968,718 shares during the last quarter. 82.38% of the stock is owned by institutional investors and hedge funds.
American Express (NYSE:AXP) opened at $97.19 on Wednesday. The stock has a market capitalization of $83,266.38, a PE ratio of 33.51, a PEG ratio of 1.32 and a beta of 1.19. American Express has a 12-month low of $75.51 and a 12-month high of $102.39. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 3.11.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a return on equity of 26.07% and a net margin of 8.08%. The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities research analysts predict that American Express will post 7.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were given a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.44%. American Express’s dividend payout ratio is presently 48.28%.
In related news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashwini Gupta sold 57,306 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total value of $5,446,362.24. The disclosure for this sale can be found here. Insiders sold a total of 326,110 shares of company stock valued at $31,858,001 over the last quarter. 0.67% of the stock is owned by insiders.
Several analysts have weighed in on AXP shares. Atlantic Securities raised American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective for the company in a report on Tuesday, October 24th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America set a $128.00 price objective on American Express and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $116.00 price objective on shares of American Express in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $102.68.
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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