Nichols & Pratt Advisers LLP MA held its stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,600 shares of the payment services company’s stock at the close of the 2nd quarter. Nichols & Pratt Advisers LLP MA’s holdings in American Express were worth $219,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Matthew Goff Investment Advisor LLC acquired a new stake in American Express during the 1st quarter worth about $2,543,000. Vanguard Group Inc. boosted its position in American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after acquiring an additional 722,235 shares during the period. Rothschild Asset Management Inc. boosted its position in American Express by 19.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after acquiring an additional 104,647 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in American Express during the 2nd quarter worth about $215,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in American Express by 2.6% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock worth $405,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 82.93% of the company’s stock.
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In other news, insider Anre D. Williams sold 53,111 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the completion of the sale, the insider now directly owns 79,614 shares of the company’s stock, valued at $6,786,297.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock valued at $5,959,848. Insiders own 0.67% of the company’s stock.
A number of brokerages have commented on AXP. Jefferies Group LLC restated an “in-line” rating and set a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Stephens set a $89.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Oppenheimer Holdings, Inc. set a $99.00 price objective on American Express and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley raised their price objective on American Express from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $90.66.
American Express Company (NYSE AXP) opened at 92.38 on Tuesday. American Express Company has a 12 month low of $65.03 and a 12 month high of $93.35. The firm has a 50-day moving average price of $89.38 and a 200 day moving average price of $83.73. The company has a market capitalization of $81.66 billion, a P/E ratio of 18.95 and a beta of 1.21.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.75% and a net margin of 14.48%. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the firm posted $1.24 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Analysts expect that American Express Company will post $5.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is presently 26.97%.
American Express declared that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $4.40 billion in outstanding shares. This buyback authorization permits the payment services company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
American Express Company 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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