D.A. Davidson & CO. increased its stake in shares of American Express Company (NYSE:AXP) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,305 shares of the payment services company’s stock after acquiring an additional 2,052 shares during the quarter. D.A. Davidson & CO.’s holdings in American Express were worth $2,300,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. MCF Advisors LLC increased its position in American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC bought a new position in American Express during the second quarter worth $115,000. MV Capital Management Inc. increased its position in American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after acquiring an additional 138 shares during the period. 84.12% of the stock is currently owned by institutional investors and hedge funds.
In other American Express news, insider Ashwini Gupta sold 90,658 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the transaction, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,845 shares of company stock worth $13,197,233. Corporate insiders own 0.67% of the company’s stock.
AXP has been the topic of a number of research reports. Barclays PLC reaffirmed a “buy” rating and set a $83.00 target price on shares of American Express in a research report on Thursday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $91.56.
American Express Company (AXP) opened at $93.52 on Monday. The stock has a market cap of $81,175.00, a PE ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a 52-week low of $69.65 and a 52-week high of $96.90.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business 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 earned $1.24 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. analysts forecast that American Express Company will post 5.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. American Express’s dividend payout ratio is presently 26.97%.
About American Express
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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