Ninety One UK Ltd Has $14.22 Million Stake in American Express Company $AXP

Ninety One UK Ltd lowered its stake in American Express Company (NYSE:AXP) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,819 shares of the payment services company’s stock after selling 28,067 shares during the period. Ninety One UK Ltd’s holdings in American Express were worth $14,223,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. lifted its stake in shares of American Express by 1.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after acquiring an additional 29 shares during the period. Bath Savings Trust Co raised its holdings in American Express by 1.1% during the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock worth $971,000 after purchasing an additional 31 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in American Express by 0.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 4,220 shares of the payment services company’s stock valued at $1,402,000 after purchasing an additional 31 shares during the period. Berger Financial Group Inc boosted its stake in shares of American Express by 1.4% in the 3rd quarter. Berger Financial Group Inc now owns 2,232 shares of the payment services company’s stock valued at $741,000 after purchasing an additional 31 shares during the last quarter. Finally, Capital Asset Advisory Services LLC grew its position in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 over the last ninety days. Company insiders own 0.20% of the company’s stock.

American Express Stock Down 0.9%

NYSE:AXP opened at $370.04 on Friday. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The stock has a 50-day moving average price of $366.74 and a two-hundred day moving average price of $336.01. The stock has a market cap of $254.90 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.76 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million for the quarter, compared to the consensus estimate of $18.91 billion. As a group, equities analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio is 22.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. HSBC set a $295.00 price target on American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Barclays increased their target price on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Finally, Evercore ISI boosted their target price on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $335.55.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.