Union Bankshares Corp Sells 1,990 Shares of American Express (AXP)

Union Bankshares Corp cut its stake in American Express (NYSE:AXP) by 4.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,714 shares of the payment services company’s stock after selling 1,990 shares during the quarter. Union Bankshares Corp’s holdings in American Express were worth $3,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its position in American Express by 969.9% during the 2nd quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after acquiring an additional 8,689,714 shares during the last quarter. Centaurus Financial Inc. grew its position in American Express by 37.7% during the 2nd quarter. Centaurus Financial Inc. now owns 9,727 shares of the payment services company’s stock worth $953,000 after acquiring an additional 2,661 shares during the last quarter. HPM Partners LLC grew its position in American Express by 26.2% during the 2nd quarter. HPM Partners LLC now owns 8,201 shares of the payment services company’s stock worth $804,000 after acquiring an additional 1,702 shares during the last quarter. Argent Trust Co grew its position in American Express by 624.4% during the 2nd quarter. Argent Trust Co now owns 46,744 shares of the payment services company’s stock worth $4,581,000 after acquiring an additional 40,291 shares during the last quarter. Finally, Davy Asset Management Ltd bought a new stake in American Express during the 2nd quarter worth approximately $1,956,000. 82.83% of the stock is owned by institutional investors and hedge funds.

AXP traded up $0.10 during mid-day trading on Monday, reaching $98.65. The stock had a trading volume of 368,934 shares, compared to its average volume of 3,669,266. The firm has a market capitalization of $84.43 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.15 and a beta of 1.14. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a 52 week low of $87.54 and a 52 week high of $114.55.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 4th will be given a $0.39 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.58%. American Express’s payout ratio is 26.58%.

A number of research firms recently commented on AXP. Morgan Stanley decreased their price target on American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Wells Fargo & Co decreased their price target on American Express from $122.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $115.00 in a research report on Wednesday, December 19th. Finally, Barclays set a $118.00 price target on American Express and gave the stock a “hold” rating in a research report on Friday, December 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average price target of $112.50.

In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the transaction, the chairman now directly owns 209,957 shares in the company, valued at approximately $21,801,934.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

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About American Express

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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