Systematic Financial Management LP lowered its holdings in American Express (NYSE:AXP) by 98.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 374 shares of the payment services company’s stock after selling 19,608 shares during the period. Systematic Financial Management LP’s holdings in American Express were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Garrett Wealth Advisory Group LLC acquired a new stake in American Express during the third quarter worth approximately $27,000. Winthrop Partners WNY LLC acquired a new stake in American Express during the third quarter worth approximately $30,000. HMS Capital Management LLC acquired a new stake in American Express during the second quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in American Express during the third quarter worth approximately $35,000. Finally, Enterprise Trust & Investment Co acquired a new stake in American Express during the third quarter worth approximately $38,000. 84.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. Wells Fargo & Co set a $140.00 price target on American Express and gave the stock a “buy” rating in a research report on Monday, October 21st. BMO Capital Markets increased their price target on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Oppenheimer set a $126.00 price target on American Express and gave the stock a “buy” rating in a research report on Monday, October 21st. William Blair restated a “buy” rating on shares of American Express in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. set a $122.00 target price on American Express and gave the stock a “hold” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $124.96.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.01. American Express had a return on equity of 29.68% and a net margin of 16.51%. The company had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $1.88 EPS. American Express’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that American Express will post 8.17 earnings per share for the current year.
The company also recently declared a 0.39000 dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.43 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Thursday, October 3rd. American Express’s payout ratio is 23.47%.
In other news, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the transaction, the chief executive officer now directly owns 199,609 shares in the company, valued at approximately $23,619,732.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise Pickett sold 2,400 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the transaction, the insider now owns 9,788 shares of the company’s stock, valued at $1,158,801.32. The disclosure for this sale can be found here. Insiders sold a total of 25,820 shares of company stock valued at $3,039,511 over the last quarter. 0.21% of the stock is owned by corporate insiders.
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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