Penserra Capital Management LLC increased its stake in shares of American Express (NYSE:AXP) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,643 shares of the payment services company’s stock after buying an additional 700 shares during the quarter. Penserra Capital Management LLC’s holdings in American Express were worth $659,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares in the last quarter. BlackRock Inc. raised its position in American Express by 1.1% in the second 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 raised its position in American Express by 2.8% in the fourth 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 raised its position in American Express by 7.1% in the third 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, Artisan Partners Limited Partnership raised its position in American Express by 0.4% in the second quarter. Artisan Partners Limited Partnership now owns 5,057,642 shares of the payment services company’s stock valued at $426,056,000 after purchasing an additional 22,376 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.
AXP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $116.00 target price on shares of American Express in a research report on Friday, December 22nd. Bank of America set a $128.00 price objective on American Express and gave the company a “buy” rating in a report on Monday, December 18th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a report on Friday, January 12th. Barclays boosted their price objective on American Express from $112.00 to $119.00 in a report on Friday, January 19th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $115.00 target price (up from $105.00) on shares of American Express in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $102.68.
In other news, insider James Peter Bush sold 13,356 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the completion of the transaction, the insider now directly owns 100,790 shares of the company’s stock, valued at approximately $9,942,933.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth I. Chenault sold 96,440 shares of the 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 transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,256 shares of company stock valued at $25,089,354. 0.67% of the stock is owned by company insiders.
American Express (NYSE AXP) traded up $0.94 on Thursday, reaching $96.59. The company’s stock had a trading volume of 3,760,000 shares, compared to its average volume of 4,260,000. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.06. The stock has a market cap of $83,840.00, a P/E ratio of 16.32, a PEG ratio of 1.31 and a beta of 1.16. American Express has a 12-month low of $75.51 and a 12-month high of $102.39.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.00% and a net margin of 8.08%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. analysts predict that American Express will post 7.13 earnings per share for the current fiscal year.
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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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