Ameriprise Financial Inc. lowered its stake in American Express Company (NYSE:AXP) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,312,267 shares of the payment services company’s stock after selling 113,256 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.15% of American Express worth $118,713,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of AXP. MCF Advisors LLC boosted its position in shares of American Express by 0.3% during 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 boosted its position in shares of American Express by 30.4% during 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 bought a new stake in shares of American Express during the 2nd quarter valued at about $115,000. MV Capital Management Inc. boosted its position in shares of American Express by 3.5% during 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 last quarter. Finally, Westside Investment Management Inc. boosted its position in shares of American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
American Express Company (NYSE AXP) opened at $98.74 on Tuesday. 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 $100.53. The stock has a market capitalization of $85,705.95, a P/E ratio of 19.03, a PEG ratio of 1.65 and a beta of 1.22.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s payout ratio is 26.97%.
In related news, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the sale, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the company’s 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 $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,310 shares of company stock worth $42,478,329. 0.67% of the stock is owned by insiders.
AXP has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and issued a $84.00 target price (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Bank of America restated a “buy” rating and issued a $102.00 target price on shares of American Express in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $94.04.
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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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