Macquarie Group Ltd. cut its position in shares of American Express Company (NYSE:AXP) by 15.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,548 shares of the payment services company’s stock after selling 36,311 shares during the period. Macquarie Group Ltd.’s holdings in American Express were worth $16,473,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Prudential PLC lifted its holdings in American Express by 9.1% during the second quarter. Prudential PLC now owns 3,003,335 shares of the payment services company’s stock valued at $253,000,000 after purchasing an additional 250,044 shares in the last quarter. AHL Partners LLP lifted its holdings in American Express by 7.8% during the second quarter. AHL Partners LLP now owns 69,653 shares of the payment services company’s stock valued at $5,868,000 after purchasing an additional 5,064 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in American Express by 1.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock valued at $241,000 after purchasing an additional 41 shares in the last quarter. Guardian Capital LP lifted its holdings in American Express by 7.0% during the second quarter. Guardian Capital LP now owns 16,733 shares of the payment services company’s stock valued at $1,410,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new position in American Express during the second quarter valued at $912,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashwini Gupta sold 90,658 shares of American Express stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 289,996 shares of the company’s stock, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. Insiders sold 146,345 shares of company stock valued at $13,716,103 in the last 90 days. Company insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $94.41 on Wednesday. American Express Company has a 12-month low of $70.87 and a 12-month high of $96.90. The firm has a market cap of $81,548.24, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. 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 (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. equities research analysts anticipate that American Express Company will post 5.86 EPS for the current year.
The business also recently declared 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 was Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. American Express’s dividend payout ratio (DPR) is currently 26.97%.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Wednesday, November 1st. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a report on Tuesday, October 24th. Jefferies Group LLC reaffirmed an “in-line” rating and set a $93.00 price objective (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Finally, Stephens set a $89.00 price objective on shares of American Express and gave the company a “hold” rating in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. American Express has an average rating of “Hold” and an average price target of $91.56.
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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