Abner Herrman & Brock LLC Has $19.36 Million Stake in American Express (NYSE:AXP)

Abner Herrman & Brock LLC decreased its holdings in shares of American Express (NYSE:AXP) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,705 shares of the payment services company’s stock after selling 739 shares during the quarter. American Express accounts for approximately 2.9% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 13th largest position. Abner Herrman & Brock LLC’s holdings in American Express were worth $19,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in American Express by 6.9% during the 1st quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock worth $2,871,804,000 after buying an additional 1,690,676 shares during the period. Fisher Asset Management LLC boosted its position in American Express by 3.5% during the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock worth $1,401,376,000 after buying an additional 381,084 shares during the period. Magellan Asset Management Ltd boosted its position in American Express by 212,845.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after buying an additional 9,575,925 shares during the period. Nuveen Asset Management LLC boosted its position in American Express by 1,759.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock worth $859,345,000 after buying an additional 6,587,148 shares during the period. Finally, Clearbridge Investments LLC boosted its position in American Express by 1.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,711,576 shares of the payment services company’s stock worth $624,275,000 after buying an additional 92,548 shares during the period. 83.86% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Paul D. Fabara sold 15,455 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the transaction, the insider now directly owns 35,931 shares in the company, valued at approximately $4,565,392.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the transaction, the chief executive officer now owns 199,609 shares in the company, valued at $23,619,732.97. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock worth $4,618,653 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Shares of American Express stock traded up $1.80 on Friday, reaching $116.82. 156,646 shares of the company’s stock were exchanged, compared to its average volume of 3,561,523. The company has a market capitalization of $93.37 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The firm’s 50-day moving average is $117.97 and its two-hundred day moving average is $119.36. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.02. The firm had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. On average, analysts expect that American Express will post 8.13 EPS for the current fiscal year.

The firm also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.43 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s payout ratio is 23.47%.

Several equities research analysts recently commented on the stock. Jefferies Financial Group set a $130.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Friday, July 19th. ValuEngine downgraded shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley set a $142.00 target price on shares of American Express and gave the company a “buy” rating in a research report on Friday, August 9th. Deutsche Bank began coverage on shares of American Express in a research report on Monday, July 8th. They set a “buy” rating and a $142.00 target price for the company. Finally, Bank of America began coverage on shares of American Express in a research report on Wednesday, June 19th. They set a “buy” rating and a $145.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $124.78.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: What is the downside to momentum investing?

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.