Van ECK Associates Corp lifted its stake in shares of American Express Company (NYSE:AXP) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,104 shares of the payment services company’s stock after purchasing an additional 22,250 shares during the quarter. Van ECK Associates Corp’s holdings in American Express were worth $15,930,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. MCF Advisors LLC raised its stake in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares in the last quarter. Appleton Partners Inc. MA raised its stake in shares of American Express by 0.3% during the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after purchasing an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of American Express by 0.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares in the last quarter. Bath Savings Trust Co raised its stake in shares of American Express by 0.3% during the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after purchasing an additional 14 shares in the last quarter. Finally, Accredited Investors Inc. raised its stake in shares of American Express by 0.5% during the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
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In other news, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the completion of the sale, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,845 shares of company stock valued at $13,197,233. 0.67% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on AXP shares. William Blair restated an “outperform” rating on shares of American Express in a research note on Tuesday, July 18th. Credit Suisse Group restated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Barclays PLC restated a “buy” rating and set a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $94.00 price objective (up from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, Guggenheim restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. American Express currently has a consensus rating of “Hold” and a consensus price target of $91.56.
American Express Company (NYSE:AXP) opened at $93.52 on Monday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 12 month low of $69.65 and a 12 month high of $96.90. The firm has a market capitalization of $81,175.00, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. equities research analysts forecast that American Express Company will post 5.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. This is a positive change from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s payout ratio is currently 26.97%.
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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