RFG Advisory LLC cut its stake in American Express (NYSE:AXP) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,281 shares of the payment services company’s stock after selling 400 shares during the quarter. RFG Advisory LLC’s holdings in American Express were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of American Express by 6.2% in the second quarter. BlackRock Inc. now owns 45,537,738 shares of the payment services company’s stock worth $4,335,193,000 after acquiring an additional 2,645,570 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in American Express by 4.1% in the second quarter. Fisher Asset Management LLC now owns 14,608,262 shares of the payment services company’s stock worth $1,390,707,000 after purchasing an additional 569,150 shares in the last quarter. Viking Global Investors LP boosted its holdings in American Express by 170.7% in the second quarter. Viking Global Investors LP now owns 10,497,498 shares of the payment services company’s stock worth $999,362,000 after purchasing an additional 6,619,218 shares in the last quarter. Morgan Stanley boosted its holdings in American Express by 25.3% in the first quarter. Morgan Stanley now owns 7,716,861 shares of the payment services company’s stock worth $660,641,000 after purchasing an additional 1,559,432 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in American Express by 6.9% in the first quarter. Clearbridge Investments LLC now owns 7,238,019 shares of the payment services company’s stock worth $619,647,000 after purchasing an additional 468,502 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.
In other American Express news, insider Denise Pickett sold 2,864 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $96.62, for a total value of $276,719.68. Following the transaction, the insider now directly owns 10,202 shares of the company’s stock, valued at $985,717.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on AXP. Wells Fargo & Company reiterated a “sell” rating and issued a $90.00 price objective on shares of American Express in a report on Wednesday, September 30th. Wolfe Research began coverage on shares of American Express in a report on Friday, July 31st. They issued an “outperform” rating for the company. BMO Capital Markets upped their price objective on shares of American Express from $96.00 to $100.00 in a report on Monday, July 27th. UBS Group cut shares of American Express from a “neutral” rating to a “sell” rating and set a $92.00 price objective for the company. in a report on Monday, June 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Express from $97.00 to $106.00 and gave the stock an “underweight” rating in a report on Friday, October 9th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $104.63.
NYSE:AXP opened at $104.81 on Thursday. American Express has a 12-month low of $67.00 and a 12-month high of $138.13. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $85.84 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14. The firm has a 50-day moving average price of $102.45 and a 200 day moving average price of $95.64.
American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.16. American Express had a net margin of 10.02% and a return on equity of 24.08%. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the firm earned $2.07 earnings per share. The business’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, research analysts expect that American Express will post 4.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be paid a $0.43 dividend. The ex-dividend date is Thursday, October 8th. This represents a $1.72 dividend on an annualized basis and a yield of 1.64%. American Express’s payout ratio is presently 20.98%.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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