California Public Employees Retirement System reduced its position in American Express Company (NYSE:AXP) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,010,791 shares of the payment services company’s stock after selling 39,735 shares during the quarter. California Public Employees Retirement System’s holdings in American Express were worth $181,896,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP lifted its stake in shares of American Express by 15.2% during the second quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of American Express during the second quarter worth $101,526,000. Canada Pension Plan Investment Board lifted its stake in shares of American Express by 944,765.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after buying an additional 1,077,033 shares during the period. Janus Henderson Group PLC lifted its stake in shares of American Express by 55.9% during the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock worth $242,003,000 after buying an additional 959,824 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of American Express by 11,602.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock worth $75,909,000 after buying an additional 893,400 shares during the period. 83.35% of the stock is currently owned by institutional investors and hedge funds.
AXP has been the subject of a number of research reports. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Stephens set a $97.00 target price on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, January 2nd. Credit Suisse Group restated an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Oppenheimer set a $99.00 target price on shares of American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $116.00 target price on shares of American Express in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.84.
American Express (NYSE:AXP) last released its quarterly earnings data 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 company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities research 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. Shareholders 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 payout ratio is 27.03%.
In other news, insider Ashwini Gupta sold 90,658 shares of the business’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 completion of the sale, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock valued at $42,823,869 in the last ninety days. 0.67% of the stock is owned by corporate insiders.
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American Express 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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