KBC Group NV trimmed its position in American Express (NYSE:AXP) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,759 shares of the payment services company’s stock after selling 25,655 shares during the period. KBC Group NV’s holdings in American Express were worth $25,995,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Cognios Capital LLC purchased a new stake in shares of American Express in the fourth quarter worth $564,000. Daiwa Securities Group Inc. grew its stake in shares of American Express by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 70,006 shares of the payment services company’s stock worth $6,952,000 after acquiring an additional 1,765 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new stake in shares of American Express in the fourth quarter worth $338,000. Rench Wealth Management Inc. grew its stake in shares of American Express by 10.1% in the fourth quarter. Rench Wealth Management Inc. now owns 28,107 shares of the payment services company’s stock worth $2,791,000 after acquiring an additional 2,578 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of American Express by 54.0% in the fourth quarter. Teacher Retirement System of Texas now owns 207,930 shares of the payment services company’s stock worth $20,650,000 after acquiring an additional 72,893 shares during the last quarter. 83.56% of the stock is currently owned by institutional investors.
American Express (NYSE:AXP) opened at $91.72 on Friday. American Express has a 1-year low of $75.51 and a 1-year high of $102.39. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. The firm has a market capitalization of $79,612.59, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 4th. American Express’s dividend payout ratio is 48.28%.
In other American Express news, insider Douglas E. Buckminster sold 88,930 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $98.87, for a total value of $8,792,509.10. Following the transaction, the insider now owns 152,507 shares of the company’s stock, valued at $15,078,367.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James Peter Bush sold 12,789 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last three months, insiders sold 326,110 shares of company stock worth $31,858,001. 0.67% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Friday, January 12th. Sandler O’Neill reissued a “buy” rating on shares of American Express in a research note on Wednesday, January 17th. Barclays set a $119.00 target price on American Express and gave the stock an “equal weight” rating in a research note on Thursday, January 11th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $103.00 target price on shares of American Express in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $101.56.
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American Express Company 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).
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