Gamco Investors INC. ET AL Sells 37,879 Shares of American Express Company (AXP)

Gamco Investors INC. ET AL cut its holdings in shares of American Express Company (NYSE:AXP) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,391,519 shares of the payment services company’s stock after selling 37,879 shares during the period. American Express accounts for approximately 1.3% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 5th biggest holding. Gamco Investors INC. ET AL owned about 0.27% of American Express worth $216,337,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MCF Advisors LLC increased its position in shares of 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 period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of 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 period. Capital Analysts LLC acquired a new position in shares of American Express in the 2nd quarter valued at $115,000. Westside Investment Management Inc. increased its position in shares of 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 period. Finally, MV Capital Management Inc. increased its position in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on AXP shares. Bank of America reissued a “buy” rating and issued a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Oppenheimer set a $99.00 target price on American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley cut their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.56.

In other news, EVP Michael John O’neill sold 43,741 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $98.85, for a total transaction of $4,323,797.85. Following the sale, the executive vice president now directly owns 43,731 shares of the company’s stock, valued at approximately $4,322,809.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 343,870 shares of company stock worth $33,094,717. Corporate insiders own 0.67% of the company’s stock.

Shares of American Express Company (NYSE:AXP) opened at $98.52 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90. American Express Company has a 12 month low of $73.50 and a 12 month high of $99.75. The stock has a market cap of $84,325.84, a PE ratio of 18.61, a PEG ratio of 1.62 and a beta of 1.22.

American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. research analysts predict that American Express Company will post 5.86 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is currently 26.97%.

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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).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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