Cape ANN Savings Bank Invests $238,000 in American Express (AXP)

Cape ANN Savings Bank bought a new position in shares of American Express (NYSE:AXP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,392 shares of the payment services company’s stock, valued at approximately $238,000.

Several other hedge funds also recently added to or reduced their stakes in AXP. Capital Analysts LLC purchased a new stake in American Express during the 2nd quarter valued at about $115,000. Zions Bancorporation grew its stake in American Express by 912.9% during the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares in the last quarter. Westside Investment Management Inc. grew its stake in American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares in the last quarter. WFG Advisors LP grew its stake in American Express by 38.8% during the 2nd quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after acquiring an additional 438 shares in the last quarter. Finally, First Dallas Securities Inc. purchased a new stake in American Express during the 4th quarter valued at about $139,000. 83.37% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of American Express from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Wednesday, November 1st. Jefferies Group reaffirmed an “in-line” rating and set a $93.00 price objective (up previously from $85.00) on shares of American Express in a research note on Thursday, October 19th. Morgan Stanley upped their price objective on shares of American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada upped their price objective on shares of American Express to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $102.68.

In other American Express news, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the sale, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ashwini Gupta sold 57,306 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total transaction of $5,446,362.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 326,110 shares of company stock worth $31,858,001. Company insiders own 0.67% of the company’s stock.

American Express (NYSE:AXP) opened at $96.23 on Thursday. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11. American Express has a fifty-two week low of $75.51 and a fifty-two week high of $102.39. The company has a market cap of $82,077.72, a P/E ratio of 33.18, a PEG ratio of 1.29 and a beta of 1.19.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.07%. The firm had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts anticipate that American Express will post 7.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. American Express’s dividend payout ratio is currently 48.28%.

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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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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