Ninety One UK Ltd Cuts Holdings in American Express Company $AXP

Key Points

• Ninety One UK Ltd has reduced its holdings in American Express Company (AXP) by 30.5%, owning 70,886 shares after selling 31,141 shares in the second quarter.
• American Express reported a quarterly EPS of $4.08, exceeding expectations, with a net margin of 14.78% and revenue of $17.86 billion, which is up 9.3% year-over-year.
• The company announced a quarterly dividend of $0.82 per share, with an ex-dividend date set for October 10th, representing a 1.0% dividend yield.

Ninety One UK Ltd reduced its position in American Express Company (NYSE:AXP) by 30.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,886 shares of the payment services company's stock after selling 31,141 shares during the period. Ninety One UK Ltd's holdings in American Express were worth $22,611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the 1st quarter valued at about $29,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter worth approximately $35,000. 1 North Wealth Services LLC purchased a new stake in American Express during the first quarter valued at approximately $37,000. IAG Wealth Partners LLC bought a new stake in shares of American Express in the 1st quarter valued at approximately $40,000. Finally, PFS Partners LLC lifted its stake in shares of American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company's stock valued at $41,000 after purchasing an additional 78 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $328.76 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company has a 50 day moving average price of $319.19 and a 200-day moving average price of $297.32. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The stock has a market capitalization of $228.77 billion, a PE ratio of 23.07, a PEG ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the company posted $3.49 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express's dividend payout ratio is 23.02%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup restated a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research note on Wednesday. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $319.95.

Insider Transactions at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company's stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last ninety days. 0.20% of the stock is currently owned by insiders.

American Express Company Profile

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.

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