Marathon Asset Management LLP cut its holdings in American Express Company (NYSE:AXP) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 925,131 shares of the payment services company’s stock after selling 16,979 shares during the period. American Express comprises about 1.4% of Marathon Asset Management LLP’s holdings, making the stock its 26th largest position. Marathon Asset Management LLP owned about 0.10% of American Express worth $83,681,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in AXP. Vanguard Group Inc. lifted its holdings in American Express by 1.5% in the 2nd 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 in the last quarter. BlackRock Inc. increased its position in American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. State Street Corp increased its position in American Express by 1.8% during the 1st quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after purchasing an additional 731,315 shares in the last quarter. Wellington Management Group LLP increased its position in American Express by 21.7% during the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after purchasing an additional 3,071,573 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in American Express by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after purchasing an additional 103,546 shares in the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Wednesday, November 1st. Atlantic Securities upgraded American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target for the company in a report on Tuesday, October 24th. Credit Suisse Group restated an “underperform” rating and issued a $84.00 price target (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Finally, Jefferies Group restated an “in-line” rating and issued a $93.00 price target (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $91.56.
American Express (NYSE:AXP) last issued 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 for the quarter, compared to analyst estimates of $8.31 billion. During the same period last year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts anticipate that American Express Company will post 5.86 EPS for the current fiscal 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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is presently 26.97%.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The disclosure for this sale can be found here. Insiders sold 211,199 shares of company stock worth $19,978,410 over the last ninety days. 0.67% of the stock is owned by corporate insiders.
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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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