First Republic Investment Management Inc. raised its holdings in American Express Company (NYSE:AXP) by 11.5% in the third quarter, Holdings Channel reports. The fund owned 140,634 shares of the payment services company’s stock after acquiring an additional 14,547 shares during the period. First Republic Investment Management Inc.’s holdings in American Express were worth $12,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in American Express by 4.9% during the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock valued at $12,948,000 after buying an additional 6,709 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in American Express by 10.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after buying an additional 554 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in American Express during the third quarter valued at about $5,505,000. Shelton Capital Management purchased a new stake in American Express during the second quarter valued at about $670,000. Finally, Schroder Investment Management Group lifted its stake in American Express by 17.5% during the third quarter. Schroder Investment Management Group now owns 1,416,401 shares of the payment services company’s stock valued at $127,674,000 after buying an additional 211,304 shares in the last quarter. 83.35% of the stock is owned by institutional investors.
In related news, insider Anre D. Williams sold 30,761 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Peter Bush sold 12,789 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.
American Express Company (NYSE:AXP) opened at $101.08 on Monday. American Express Company has a twelve month low of $75.06 and a twelve month high of $101.65. The company has a market capitalization of $87,737.06, a P/E ratio of 19.48, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. analysts expect that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. American Express’s dividend payout ratio is currently 26.97%.
A number of analysts have commented on AXP shares. Oppenheimer set a $99.00 price objective on shares of American Express and gave the company a “buy” rating in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and set a $102.00 price objective on shares of American Express in a research note on Monday, October 9th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, September 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $116.00 price objective on shares of American Express in a research note on Friday, December 22nd. Finally, Deutsche Bank initiated coverage on American Express in a report on Tuesday, January 2nd. They issued a “buy” rating and a $118.00 target price on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $96.68.
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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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