Penserra Capital Management LLC Buys 700 Shares of American Express (AXP)

Penserra Capital Management LLC raised its stake in American Express (NYSE:AXP) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,643 shares of the payment services company’s stock after purchasing an additional 700 shares during the quarter. Penserra Capital Management LLC’s holdings in American Express were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Capital Analysts LLC purchased a new position in shares of American Express during the second quarter valued at approximately $115,000. Zions Bancorporation increased its stake in shares of American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after buying an additional 1,205 shares during the period. Westside Investment Management Inc. increased its stake in shares of American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares during the period. WFG Advisors LP increased its stake in shares of American Express by 38.8% during the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after buying an additional 438 shares during the period. Finally, First Dallas Securities Inc. purchased a new position in shares of American Express during the fourth quarter valued at approximately $139,000. Hedge funds and other institutional investors own 83.37% of the company’s stock.

In other news, insider James Peter Bush sold 13,356 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total value of $1,317,569.40. Following the sale, the insider now directly owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth I. Chenault sold 96,440 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,178,333 shares in the company, valued at $114,651,800.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 326,110 shares of company stock worth $31,858,001. Insiders own 0.67% of the company’s stock.

AXP has been the topic of several research analyst reports. Bank of America set a $128.00 target price on American Express and gave the company a “buy” rating in a research note on Monday, December 18th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $116.00 target price on shares of American Express in a research note on Friday, December 22nd. 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. Wells Fargo & Co reissued an “outperform” rating and set a $115.00 target price (up from $105.00) on shares of American Express in a research note on Tuesday, January 9th. Finally, Deutsche Bank initiated coverage on American Express in a research note on Tuesday, January 2nd. They set a “buy” rating and a $118.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $102.68.

Shares of American Express (NYSE AXP) opened at $94.56 on Wednesday. The firm has a market capitalization of $82,199.24, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.30 and a beta of 1.19. American Express has a 12 month low of $75.51 and a 12 month high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11.

American Express (NYSE:AXP) last released its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. analysts predict that American Express will post 7.13 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were paid a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. American Express’s dividend payout ratio is currently 48.28%.

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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).

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

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