S Bank Fund Management Ltd acquired a new position in shares of American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,238 shares of the payment services company's stock, valued at approximately $1,352,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of American Express by 5.5% during the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock worth $183,037,000 after purchasing an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of American Express by 1.4% during the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock worth $45,243,000 after purchasing an additional 2,259 shares in the last quarter. R Squared Ltd acquired a new position in shares of American Express during the first quarter worth about $509,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American Express by 6.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock worth $25,088,000 after purchasing an additional 5,693 shares in the last quarter. Finally, Navis Wealth Advisors LLC lifted its stake in shares of American Express by 368.7% during the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after purchasing an additional 2,791 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AXP. BTIG Research set a $277.00 target price on American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. HSBC set a $295.00 target price on American Express and gave the stock a "hold" rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company lifted their target price on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $323.60.
Check Out Our Latest Stock Report on AXP
American Express Stock Down 0.6%
NYSE:AXP opened at $330.75 on Thursday. The firm has a market capitalization of $230.16 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. The stock has a 50 day moving average of $324.08 and a 200-day moving average of $301.19. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. 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 posted its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.49 earnings per share. Analysts predict that American Express Company will post 15.33 EPS for the current year.
American Express Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given 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 payout ratio is currently 23.02%.
Insider Buying and Selling at American Express
In other news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred 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 in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by 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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