LPL Financial LLC lowered its stake in shares of American Express (NYSE:AXP) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,102 shares of the payment services company’s stock after selling 1,247 shares during the quarter. LPL Financial LLC’s holdings in American Express were worth $12,896,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH boosted its position in American Express by 0.3% in the third 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 boosted its position in American Express by 2.1% in the third quarter. BancorpSouth Bank now owns 24,119 shares of the payment services company’s stock worth $2,569,000 after purchasing an additional 490 shares during the last quarter. Titus Wealth Management boosted its position in American Express by 22.5% in the second quarter. Titus Wealth Management now owns 2,722 shares of the payment services company’s stock worth $267,000 after purchasing an additional 500 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of American Express by 39.7% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,796 shares of the payment services company’s stock valued at $191,000 after buying an additional 510 shares during the last quarter. Finally, Roundview Capital LLC lifted 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 valued at $2,012,000 after buying an additional 515 shares during the last quarter. Institutional investors and hedge funds own 82.84% of the company’s stock.
A number of research analysts have recently commented on the company. Stephens raised American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price target on the stock in a research report on Monday, September 17th. Bank of America set a $125.00 price target on American Express and gave the company a “buy” rating in a research report on Friday, October 19th. Buckingham Research cut American Express from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research report on Thursday, November 29th. They noted that the move was a valuation call. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, October 9th. Finally, Nomura upped their price target on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. American Express currently has a consensus rating of “Buy” and a consensus price target of $112.83.
American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. As a group, research analysts expect that American Express will post 7.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.48%. American Express’s dividend payout ratio (DPR) is 26.58%.
In related news, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction dated 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 owns 209,957 shares of the company’s stock, valued at approximately $21,801,934.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
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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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