Brown Advisory Inc. raised its position in American Express (NYSE:AXP) by 32.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 299,622 shares of the payment services company’s stock after buying an additional 72,859 shares during the quarter. Brown Advisory Inc.’s holdings in American Express were worth $29,757,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in 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 period. BlackRock Inc. boosted its holdings in 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 period. Fisher Asset Management LLC boosted its holdings in American Express by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 11,872,530 shares of the payment services company’s stock valued at $1,179,061,000 after purchasing an additional 325,140 shares during the period. Veritas Asset Management LLP boosted its holdings in American Express by 7.1% in 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 purchasing an additional 735,952 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in American Express by 59.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock valued at $526,879,000 after purchasing an additional 1,968,718 shares during the period. 82.38% of the stock is owned by hedge funds and other institutional investors.
In related news, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the transaction, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ashwini Gupta sold 57,306 shares of American Express stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total transaction of $5,446,362.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,110 shares of company stock worth $31,858,001. 0.67% of the stock is owned by corporate insiders.
Several research analysts have commented on AXP shares. Barclays set a $119.00 price objective on shares of American Express and gave the stock an “equal weight” rating in a report on Thursday, January 11th. Instinet started coverage on shares of American Express in a report on Wednesday, January 3rd. They set a “buy” rating and a $110.00 price objective for the company. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Wednesday, January 3rd. Bank of America set a $128.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Guggenheim downgraded shares of American Express from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $98.03 to $102.00 in a report on Monday, January 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $102.68.
American Express (NYSE AXP) opened at $98.80 on Friday. The company has a market cap of $83,748.14, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.33 and a beta of 1.19. American Express has a 52-week low of $75.51 and a 52-week high of $102.39. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.93 and a quick ratio of 1.90.
American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.00%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. analysts forecast that American Express will post 7.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, January 4th. American Express’s payout ratio is presently 48.28%.
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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