Jacobi Capital Management LLC Buys 879 Shares of American Express Company (AXP)

Jacobi Capital Management LLC boosted its stake in American Express Company (NYSE:AXP) by 5.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,515 shares of the payment services company’s stock after buying an additional 879 shares during the quarter. Jacobi Capital Management LLC’s holdings in American Express were worth $1,606,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 buying an additional 731,428 shares in the last quarter. BlackRock Inc. lifted its stake in American Express by 1.1% in the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after buying an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of 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 during the period. Fisher Asset Management LLC lifted its stake in shares of American Express by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after purchasing an additional 300,042 shares during the period. Finally, Veritas Asset Management LLP lifted its stake in shares of American Express by 7.1% during the 3rd quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock worth $998,602,000 after purchasing an additional 735,952 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Anre D. Williams sold 30,761 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were 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. Over the last quarter, insiders sold 343,870 shares of company stock valued at $33,094,717. 0.67% of the stock is owned by insiders.

A number of brokerages have weighed in on AXP. Stephens set a $89.00 price target on American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Buckingham Research began coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Jefferies Group reissued an “in-line” rating and set a $93.00 price target (up previously from $85.00) on shares of American Express in a research note on Thursday, October 19th. Barclays set a $93.00 price target on American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Three equities 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’s stock. The company currently has an average rating of “Hold” and a consensus price target of $91.56.

Shares of American Express Company (AXP) opened at $98.52 on Monday. American Express Company has a twelve month low of $73.50 and a twelve month high of $99.75. The stock has a market capitalization of $85,475.90, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $8.31 billion. During the same period in the prior year, the firm earned $1.24 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. equities analysts anticipate that American Express Company will post 5.86 earnings per share for the current year.

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

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American Express Profile

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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