Virtue Capital Management LLC bought a new stake in shares of American Express (NYSE:AXP) in the first quarter, Holdings Channel reports. The firm bought 1,905 shares of the payment services company’s stock, valued at approximately $208,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Papp L Roy & Associates increased its stake in shares of American Express by 1.3% in the 1st quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after purchasing an additional 86 shares in the last quarter. Enterprise Financial Services Corp increased its stake in shares of American Express by 24.8% in the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its stake in shares of American Express by 3.8% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after purchasing an additional 97 shares in the last quarter. Bremer Trust National Association increased its stake in shares of American Express by 2.6% in the 4th quarter. Bremer Trust National Association now owns 3,991 shares of the payment services company’s stock worth $380,000 after purchasing an additional 100 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in shares of American Express by 1.6% in the 1st quarter. Rockland Trust Co. now owns 6,169 shares of the payment services company’s stock worth $674,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.
In other American Express news, insider Michael John O’neill sold 15,749 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the transaction, the insider now owns 69,941 shares of the company’s stock, valued at approximately $7,969,077.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $122.93, for a total transaction of $799,045.00. Following the transaction, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. Insiders sold a total of 183,797 shares of company stock valued at $21,861,060 in the last ninety days. 0.21% of the stock is currently owned by insiders.
Several research firms have recently commented on AXP. Morgan Stanley upgraded American Express from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $123.00 to $140.00 in a research note on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $120.00 price objective on shares of American Express in a research note on Friday, May 3rd. UBS Group lowered American Express from a “buy” rating to a “neutral” rating and set a $117.60 price objective for the company. in a research note on Monday, April 29th. Wells Fargo & Co restated a “buy” rating and issued a $125.00 price objective (up from $115.00) on shares of American Express in a research note on Tuesday, March 12th. Finally, ValuEngine upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus target price of $116.63.
American Express stock traded down $0.48 during mid-day trading on Friday, hitting $121.38. The stock had a trading volume of 58,237 shares, compared to its average volume of 2,834,701. The company has a market capitalization of $101.90 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a one year low of $89.05 and a one year high of $124.74.
American Express (NYSE:AXP) last issued its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.01. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. American Express’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Analysts forecast that American Express will post 8.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio is currently 21.28%.
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American Express Profile
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.
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