Brasada Capital Management LP bought a new stake in American Express Company (NYSE:AXP) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,500 shares of the payment services company's stock, valued at approximately $404,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Nuveen LLC purchased a new position in shares of American Express in the first quarter valued at $1,454,667,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of American Express by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after purchasing an additional 408,283 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.
American Express Stock Up 1.4%
Shares of AXP opened at $331.62 on Friday. The firm has a market capitalization of $230.77 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.73 and a beta of 1.28. American Express Company has a 12-month low of $220.43 and a 12-month high of $332.06. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average price of $311.28 and a 200-day moving average price of $290.39.
American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 earnings per share. Equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.
American Express Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's payout ratio is currently 23.02%.
Wall Street Analyst Weigh In
AXP has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, July 14th. BTIG Research set a $277.00 price objective on shares of American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Wells Fargo & Company set a $327.00 price objective on shares of American Express in a research note on Wednesday, July 2nd. Finally, Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $311.05.
Read Our Latest Analysis on AXP
Insider Activity at American Express
In related news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,219 shares of company stock worth $40,555,901 over the last three months. 0.20% of the stock is owned by corporate insiders.
About American Express
(
Free Report)
American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
See Also
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 Company (NYSE:AXP - Free Report).
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