Everence Capital Management Inc. Invests $2.42 Million in American Express (NYSE:AXP)


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Everence Capital Management Inc. acquired a new position in shares of American Express (NYSE:AXP) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,094 shares of the payment services company’s stock, valued at approximately $2,418,000.

Several other large investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in shares of American Express by 1.8% during the first quarter. Pacer Advisors Inc. now owns 36,947 shares of the payment services company’s stock worth $5,226,000 after acquiring an additional 645 shares in the last quarter. Fulton Bank N.A. raised its holdings in American Express by 6.7% during the first quarter. Fulton Bank N.A. now owns 8,450 shares of the payment services company’s stock valued at $1,195,000 after buying an additional 527 shares in the last quarter. Thomasville National Bank raised its holdings in American Express by 22.5% during the first quarter. Thomasville National Bank now owns 3,587 shares of the payment services company’s stock valued at $307,000 after buying an additional 660 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new position in American Express during the fourth quarter valued at about $798,000. Finally, Baron Silver Stevens Financial Advisors LLC bought a new position in American Express during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 83.54% of the company’s stock.

AXP has been the topic of a number of recent analyst reports. Barclays upgraded American Express from an “equal weight” rating to a “positive” rating and lifted their price objective for the stock from $114.00 to $132.00 in a research note on Thursday, December 10th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lifted 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. Oppenheimer decreased their target price on American Express from $136.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 27th. Morgan Stanley lifted their target price on American Express from $165.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Finally, Robert W. Baird downgraded American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price objective on the stock. in a report on Tuesday, February 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. American Express has a consensus rating of “Hold” and a consensus target price of $122.38.

Shares of American Express stock traded down $0.90 on Thursday, hitting $146.23. 63,951 shares of the company’s stock traded hands, compared to its average volume of 3,729,801. The firm’s 50-day moving average price is $141.29 and its two-hundred day moving average price is $120.54. The stock has a market capitalization of $117.48 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 3.27 and a beta of 1.36. American Express has a one year low of $76.00 and a one year high of $151.46. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47.

American Express (NYSE:AXP) last issued its earnings results on Monday, January 25th. The payment services company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.26 by $0.50. American Express had a net margin of 8.84% and a return on equity of 21.31%. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter in the previous year, the company posted $2.03 EPS. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, analysts forecast that American Express will post 4.85 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Friday, April 2nd will be issued a $0.43 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, March 31st. American Express’s dividend payout ratio (DPR) is 20.98%.

In other news, insider Douglas E. Buckminster sold 32,833 shares of the business’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $146.08, for a total value of $4,796,244.64. Following the completion of the transaction, the insider now owns 111,247 shares of the company’s stock, valued at approximately $16,250,961.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anre D. Williams sold 59,352 shares of the business’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $145.88, for a total transaction of $8,658,269.76. Following the completion of the transaction, the insider now directly owns 85,522 shares of the company’s stock, valued at approximately $12,475,949.36. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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