Westbourne Investment Advisors Inc. trimmed its position in shares of American Express Company (NYSE:AXP) by 34.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,550 shares of the payment services company’s stock after selling 1,900 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in American Express were worth $321,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock valued at $4,231,710,000 after purchasing an additional 731,428 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of American Express by 1.1% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after purchasing an additional 508,030 shares during the last quarter. State Street Corp lifted its holdings in shares of American Express by 1.8% during the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock valued at $3,196,011,000 after purchasing an additional 731,315 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after purchasing an additional 3,071,573 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of American Express by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after purchasing an additional 103,546 shares during the last quarter. 83.35% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on AXP shares. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Morgan Stanley lowered their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Credit Suisse Group reiterated an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Oppenheimer set a $99.00 target price on shares of American Express and gave the company a “buy” rating in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $91.56.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. equities research analysts predict that American Express Company will post 5.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. American Express’s dividend payout ratio is presently 26.97%.
In other American Express news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the sale, the insider now directly owns 28,720 shares in the company, valued at approximately $2,682,735.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,199 shares of company stock valued at $20,484,750. Company insiders own 0.67% of the company’s stock.
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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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