Loomis Sayles & Co. L P Raises Position in American Express (AXP)

Loomis Sayles & Co. L P boosted its holdings in American Express (NYSE:AXP) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,312,997 shares of the payment services company’s stock after buying an additional 25,828 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.50% of American Express worth $459,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH raised its holdings in American Express by 0.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 191,199 shares of the payment services company’s stock worth $20,361,000 after purchasing an additional 479 shares during the last quarter. BancorpSouth Bank grew its position in shares of American Express by 2.1% during the 3rd quarter. BancorpSouth Bank now owns 24,119 shares of the payment services company’s stock worth $2,569,000 after buying an additional 490 shares during the period. Titus Wealth Management grew its position in shares of American Express by 22.5% during the 2nd quarter. Titus Wealth Management now owns 2,722 shares of the payment services company’s stock worth $267,000 after buying an additional 500 shares during the period. Roundview Capital LLC grew its position in shares of American Express by 2.8% during the 3rd quarter. Roundview Capital LLC now owns 18,895 shares of the payment services company’s stock worth $2,012,000 after buying an additional 515 shares during the period. Finally, Buckingham Asset Management LLC grew its position in shares of American Express by 8.2% during the 3rd quarter. Buckingham Asset Management LLC now owns 7,810 shares of the payment services company’s stock worth $832,000 after buying an additional 589 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Several analysts have recently commented on AXP shares. Oppenheimer reaffirmed a “buy” rating and set a $114.00 price objective on shares of American Express in a research report on Thursday, October 18th. Barclays raised their price objective on shares of American Express from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, October 19th. Morgan Stanley raised their price objective on shares of American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, October 19th. Zacks Investment Research downgraded shares of American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Finally, Wells Fargo & Co lifted their price target on shares of American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $112.70.

In other news, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the sale, the chairman now directly owns 209,957 shares in the company, valued at approximately $21,801,934.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc D. Gordon sold 25,948 shares of American Express stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the sale, the insider now owns 33,111 shares in the company, valued at $3,570,359.13. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

AXP opened at $112.27 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58. The firm has a market cap of $95.91 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.45 and a beta of 1.06. American Express has a 1 year low of $87.54 and a 1 year high of $113.18.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.11. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 31.26%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS. On average, analysts expect that American Express will post 7.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 4th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, January 3rd. American Express’s payout ratio is 26.58%.

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American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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