HPM Partners LLC boosted its holdings in American Express Company (NYSE:AXP) by 144.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,100 shares of the payment services company’s stock after acquiring an additional 7,151 shares during the period. HPM Partners LLC’s holdings in American Express were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of AXP. MCF Advisors LLC grew its stake in American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the last quarter. Capital Analysts LLC acquired a new stake in American Express in the 2nd quarter valued at about $115,000. SRS Capital Advisors Inc. grew its stake in American Express by 10.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. grew its stake in American Express by 36.7% in the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares during the last quarter. 83.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on AXP. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Wednesday. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a research note on Tuesday, October 24th. Jefferies Group LLC increased their price objective on shares of American Express from $64.75 to $93.35 and gave the company a “hold” rating in a research note on Friday, October 20th. Royal Bank Of Canada increased 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. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $98.00 price objective on shares of American Express in a research note on Thursday, October 19th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and a consensus target price of $91.56.
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American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the previous year, the company earned $1.24 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.35 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, October 5th. American Express’s payout ratio is 26.97%.
In related news, insider Ashwini Gupta sold 90,658 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the sale, the insider now directly owns 289,996 shares in the company, valued at approximately $27,465,521.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,845 shares of company stock valued at $13,197,233. Corporate insiders own 0.67% of the company’s stock.
About American Express
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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