Cetera Advisor Networks LLC lowered its position in shares of American Express Company (NYSE:AXP) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,569 shares of the payment services company’s stock after selling 1,916 shares during the quarter. Cetera Advisor Networks LLC’s holdings in American Express were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Independent Advisor Alliance bought a new position in shares of American Express during the 3rd quarter worth approximately $563,000. Sterling Capital Management LLC lifted its position in shares of American Express by 1.7% during the 3rd quarter. Sterling Capital Management LLC now owns 76,538 shares of the payment services company’s stock worth $6,924,000 after buying an additional 1,270 shares in the last quarter. Colony Group LLC lifted its position in shares of American Express by 1,404.0% during the 3rd quarter. Colony Group LLC now owns 48,655 shares of the payment services company’s stock worth $4,401,000 after buying an additional 45,420 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of American Express by 1.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,917,742 shares of the payment services company’s stock worth $173,479,000 after buying an additional 28,003 shares in the last quarter. Finally, Guardian Capital LP lifted its position in shares of American Express by 5.3% during the 3rd quarter. Guardian Capital LP now owns 17,619 shares of the payment services company’s stock worth $1,594,000 after buying an additional 886 shares in the last quarter. 83.35% of the stock is currently owned by hedge funds and other institutional investors.
In other American Express news, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 442,869 shares of company stock valued at $42,823,869. Insiders own 0.67% of the company’s stock.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating 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 firm had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the firm earned $1.24 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. equities research analysts anticipate that American Express Company will post 5.86 earnings per share for the current year.
The company also recently declared 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. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is 27.03%.
Several research firms have commented on AXP. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 target price (up previously from $105.00) on shares of American Express in a research report on Tuesday. BMO Capital Markets restated a “hold” rating and set a $103.00 price target on shares of American Express in a research note on Monday. Stephens set a $97.00 price target on shares of American Express and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Finally, Instinet started coverage on shares of American Express in a research note on Wednesday, January 3rd. They set a “buy” rating and a $110.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $97.84.
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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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