Investment House LLC lifted its holdings in shares of American Express (NYSE:AXP) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,775 shares of the payment services company’s stock after buying an additional 175 shares during the period. Investment House LLC’s holdings in American Express were worth $940,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in AXP. BlackRock Inc. boosted its position in shares of American Express by 1.8% during the third quarter. BlackRock Inc. now owns 46,354,047 shares of the payment services company’s stock valued at $4,646,992,000 after buying an additional 816,309 shares during the last quarter. SPF Beheer BV boosted its position in American Express by 345.6% in the third quarter. SPF Beheer BV now owns 802,038 shares of the payment services company’s stock worth $80,404,000 after purchasing an additional 622,038 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in American Express by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,188,788 shares of the payment services company’s stock worth $1,121,676,000 after purchasing an additional 617,636 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in American Express by 84.9% in the third quarter. Lord Abbett & CO. LLC now owns 1,090,986 shares of the payment services company’s stock worth $109,369,000 after purchasing an additional 500,969 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in American Express in the third quarter worth about $38,582,000. 83.54% of the stock is currently owned by institutional investors.
AXP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their target price on American Express from $108.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. UBS Group raised American Express from a “sell” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $116.00 in a research report on Tuesday, November 10th. Wells Fargo & Company raised their target price on American Express from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 4th. 140166 cut American Express from a “positive” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on American Express from $97.00 to $106.00 and gave the company an “underweight” rating in a research report on Friday, October 9th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and a consensus price target of $115.85.
American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 23rd. The payment services company reported $1.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.09). American Express had a return on equity of 21.31% and a net margin of 8.84%. The firm had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business’s revenue was down 20.4% compared to the same quarter last year. Equities research analysts predict that American Express will post 4.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 10th. Shareholders of record on Friday, January 8th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, January 7th. American Express’s payout ratio is 20.98%.
In other American Express news, insider Douglas E. Buckminster sold 14,827 shares of American Express stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $96.85, for a total value of $1,435,994.95. Following the sale, the insider now owns 96,633 shares of the company’s stock, valued at approximately $9,358,906.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anna Marrs sold 2,064 shares of American Express stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $119.56, for a total value of $246,771.84. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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