Xact Kapitalforvaltning AB increased its stake in shares of American Express (NYSE:AXP) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,731 shares of the payment services company’s stock after buying an additional 7,747 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in American Express were worth $13,678,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation lifted its position in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after purchasing an additional 1,205 shares during the period. Trustcore Financial Services LLC acquired a new stake in American Express in the fourth quarter valued at about $128,000. Westside Investment Management Inc. lifted its position in 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 valued at $129,000 after purchasing an additional 8 shares during the period. WFG Advisors LP lifted its position in American Express by 38.8% in the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after purchasing an additional 438 shares during the period. Finally, Delpha Capital Management LLC acquired a new stake in American Express in the fourth quarter valued at about $138,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on AXP. William Blair restated an “outperform” rating on shares of American Express in a research report on Friday, March 16th. Credit Suisse Group restated a “hold” rating and issued a $94.00 price objective on shares of American Express in a research report on Friday, March 16th. Sandler O’Neill set a $109.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Thursday, March 15th. Oppenheimer set a $117.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Tuesday, March 13th. Finally, Stephens restated a “hold” rating on shares of American Express in a research report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $103.89.
American Express stock opened at $93.46 on Thursday. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.93 and a current ratio of 1.93. American Express has a 12 month low of $75.51 and a 12 month high of $102.39. The firm has a market cap of $81,683.47, a P/E ratio of 32.45, a PEG ratio of 1.30 and a beta of 1.16.
American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion during 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 company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. research analysts predict that American Express will post 7.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.40 annualized dividend and a yield of 1.50%. American Express’s payout ratio is currently 48.28%.
In other American Express news, insider James Peter Bush sold 13,356 shares of American Express stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $98.65, for a total value of $1,317,569.40. Following the completion of the sale, the insider now directly owns 100,790 shares of the company’s stock, valued at approximately $9,942,933.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.
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American Express 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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