Central Securities Corp maintained its stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the payment services company’s stock at the end of the 2nd quarter. American Express comprises about 2.3% of Central Securities Corp’s investment portfolio, making the stock its 15th largest holding. Central Securities Corp’s holdings in American Express were worth $12,636,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC increased its position in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new position in shares of American Express in the second quarter valued at approximately $115,000. SRS Capital Advisors Inc. grew its holdings in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashwini Gupta sold 90,658 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the transaction, the insider now owns 289,996 shares of the company’s stock, valued at approximately $27,465,521.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,845 shares of company stock valued at $13,197,233. 0.67% of the stock is owned by insiders.
A number of brokerages recently weighed in on AXP. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Wednesday, November 1st. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective for the company in a report on Tuesday, October 24th. Jefferies Group LLC lifted their price objective on shares of American Express from $64.75 to $93.35 and gave the company a “hold” rating in a report on Friday, October 20th. Royal Bank Of Canada lifted their price objective on shares of American Express to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $98.00 price objective on shares of American Express in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus target price of $91.56.
Shares of American Express Company (NYSE:AXP) opened at $93.52 on Monday. American Express Company has a 12-month low of $69.65 and a 12-month high of $96.90. The company has a market cap of $81,175.00, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. American Express’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts forecast that American Express Company will post 5.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio is presently 26.97%.
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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