Petrus Trust Company LTA bought a new stake in American Express Company (NYSE:AXP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,041 shares of the payment services company's stock, valued at approximately $280,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake 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 buying an additional 605,900 shares in the last quarter. Wellington Management Group LLP grew its stake 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 buying an additional 2,168,445 shares in the last quarter. Nuveen LLC purchased a new stake in American Express during the 1st quarter worth approximately $1,454,667,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 acquiring an additional 408,283 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after buying an additional 965,221 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on AXP shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Morgan Stanley upped their price objective on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, Barclays boosted their target price on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, American Express presently has an average rating of "Hold" and an average price target of $313.45.
Check Out Our Latest Analysis on AXP
American Express Stock Performance
Shares of AXP stock traded up $6.08 during trading hours on Thursday, reaching $329.43. 2,825,642 shares of the company's stock were exchanged, compared to its average volume of 2,258,363. The company has a market cap of $229.24 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company's 50 day moving average is $313.32 and its two-hundred day moving average is $291.47. American Express Company has a 1 year low of $220.43 and a 1 year high of $332.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.
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, topping analysts' consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 EPS. Equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's payout ratio is currently 23.02%.
Insider Activity
In related news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on 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 transaction, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock valued at $85,261,270 in the last 90 days. Insiders own 0.20% of the company's stock.
American Express Profile
(
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.
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