British Airways Pensions Investment Management Ltd raised its holdings in shares of American Express (NYSE:AXP) by 27.3% in the first quarter, Holdings Channel reports. The institutional investor owned 181,072 shares of the payment services company’s stock after buying an additional 38,881 shares during the quarter. British Airways Pensions Investment Management Ltd’s holdings in American Express were worth $19,791,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Camarda Financial Advisors LLC purchased a new position in shares of American Express during the first quarter worth $26,000. Creative Financial Designs Inc. ADV acquired a new stake in American Express during the first quarter valued at $28,000. Pearl River Capital LLC acquired a new stake in American Express during the fourth quarter valued at $25,000. JNBA Financial Advisors acquired a new stake in American Express during the fourth quarter valued at $26,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in American Express during the fourth quarter valued at $31,000. Institutional investors own 83.65% of the company’s stock.
Shares of NYSE AXP opened at $122.03 on Thursday. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $124.74. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.63. The stock has a market cap of $102.91 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.42 and a beta of 1.07.
American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 EPS for the quarter, topping the consensus estimate of $2.00 by $0.01. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. American Express’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. As a group, analysts predict that American Express will post 8.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.28%. American Express’s dividend payout ratio (DPR) is presently 21.28%.
Several research firms recently commented on AXP. Stephens set a $131.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Monday, May 20th. ValuEngine upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Royal Bank of Canada restated a “sector perform” rating and set a $120.00 price target on shares of American Express in a research report on Friday, May 3rd. Oppenheimer set a $119.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, DZ Bank lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. American Express presently has an average rating of “Hold” and a consensus price target of $116.63.
In related news, Chairman Stephen J. Squeri sold 101,964 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now directly owns 258,948 shares in the company, valued at approximately $31,060,812.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,797 shares of company stock worth $21,861,060. Company insiders own 0.21% of the company’s stock.
WARNING: “American Express (NYSE:AXP) Shares Bought by British Airways Pensions Investment Management Ltd” was first posted by Zolmax and is owned by of Zolmax. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://zolmax.com/investing/american-express-nyseaxp-shares-bought-by-british-airways-pensions-investment-management-ltd/3112798.html.
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.
Featured Article: Why Invest in Dividend Achievers?
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.