Quantitative Investment Management LLC grew its position in shares of American Express Company (NYSE:AXP - Free Report) by 731.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,957 shares of the payment services company's stock after acquiring an additional 6,120 shares during the period. Quantitative Investment Management LLC's holdings in American Express were worth $1,871,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of American Express in the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express in the 1st quarter worth approximately $29,000. Nexus Investment Management ULC purchased a new stake in shares of American Express in the 1st quarter worth approximately $34,000. Hughes Financial Services LLC purchased a new stake in shares of American Express in the 1st quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 84.33% of the company's stock.
American Express Stock Performance
American Express stock traded up $2.23 during trading on Wednesday, reaching $322.83. The company had a trading volume of 1,970,031 shares, compared to its average volume of 2,388,932. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The firm's 50-day simple moving average is $310.00 and its 200 day simple moving average is $290.12. The firm has a market capitalization of $224.65 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.70 and a beta of 1.28. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.
American Express (NYSE:AXP - Get Free Report) last issued its quarterly 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. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the business posted $3.49 EPS. American Express's revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.
American Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is presently 23.02%.
Insider Activity
In other news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's 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 transaction, the insider 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 position. The disclosure for this sale can be found here. Insiders sold a total of 134,219 shares of company stock worth $40,555,901 over the last 90 days. Corporate insiders own 0.20% of the company's stock.
Wall Street Analysts Forecast Growth
AXP has been the topic of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Barclays upped their price objective on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price objective on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Eight 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $311.05.
Check Out Our Latest Stock Report on American Express
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.
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