Murphy Capital Management Inc. lowered its stake in shares of American Express (NYSE:AXP) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,005 shares of the payment services company’s stock after selling 140 shares during the quarter. Murphy Capital Management Inc.’s holdings in American Express were worth $2,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of AXP. HMS Capital Management LLC purchased a new position in American Express during the second quarter valued at approximately $37,000. Enterprise Trust & Investment Co purchased a new position in American Express during the third quarter valued at approximately $38,000. Edge Wealth Management LLC raised 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 acquiring an additional 216 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in American Express during the second quarter valued at approximately $48,000. Finally, Prestige Wealth Management Group LLC purchased a new position in American Express during the second quarter valued at approximately $49,000. 83.86% of the stock is currently owned by institutional investors.
AXP traded up $1.96 during trading on Friday, hitting $116.98. The company’s stock had a trading volume of 1,452,197 shares, compared to its average volume of 3,561,523. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. American Express has a twelve month low of $89.05 and a twelve month high of $129.34. The business’s fifty day simple moving average is $117.97 and its 200 day simple moving average is $119.36. The firm has a market capitalization of $93.37 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.36 and a beta of 1.06.
American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. As a group, equities research analysts forecast that American Express will post 8.13 earnings per share for the current fiscal year.
The company also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.43 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Thursday, October 3rd. American Express’s dividend payout ratio is presently 23.47%.
Several brokerages recently weighed in on AXP. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Tuesday, June 18th. JPMorgan Chase & Co. reduced their price target on American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Morgan Stanley set a $142.00 price objective on American Express and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America started coverage on American Express in a report on Wednesday, June 19th. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, Wells Fargo & Co raised their price objective on American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $124.78.
In other news, CFO Jeffrey C. Campbell sold 7,045 shares of American Express stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the sale, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction that occurred 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 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. Insiders sold 37,500 shares of company stock worth $4,618,653 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.
American Express Company 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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