First Citizens Bank & Trust Co. lifted its position in shares of American Express (NYSE:AXP) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,643 shares of the payment services company’s stock after buying an additional 269 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in American Express were worth $431,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. HMS Capital Management LLC purchased a new stake in American Express in the second quarter valued at approximately $37,000. Enterprise Trust & Investment Co acquired a new position in American Express during the third quarter valued at approximately $38,000. Edge Wealth Management LLC lifted its position in American Express by 140.3% during the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after buying an additional 216 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in American Express during the second quarter valued at approximately $48,000. Finally, Prestige Wealth Management Group LLC acquired a new position in American Express during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.
A number of research analysts have weighed in on AXP shares. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. Cfra reaffirmed a “hold” rating on shares of American Express in a research report on Friday. Deutsche Bank started coverage on shares of American Express in a research report on Monday, July 8th. They set a “buy” rating and a $142.00 price target on the stock. Wells Fargo & Co lifted their price target on shares of American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley set a $142.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $124.29.
NYSE AXP opened at $116.76 on Monday. The company’s fifty day simple moving average is $117.67 and its 200-day simple moving average is $119.68. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The stock has a market cap of $98.81 billion, a P/E ratio of 15.47, a PEG ratio of 1.44 and a beta of 1.06.
American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.75%. The business had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts expect that American Express will post 8.15 EPS for the current fiscal year.
The company also recently announced a 0.39000 dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s payout ratio is currently 23.47%.
In related news, insider Paul D. Fabara sold 15,455 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total value of $1,963,712.30. Following the sale, the insider now directly owns 35,931 shares of the company’s stock, valued at $4,565,392.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares in the company, valued at $23,619,732.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,500 shares of company stock worth $4,618,653. Corporate insiders own 0.21% of the company’s stock.
American Express Profile
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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