Sustainable Growth Advisers LP lowered its stake in American Express Company (NYSE:AXP - Free Report) by 17.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 827,494 shares of the payment services company's stock after selling 177,158 shares during the quarter. American Express accounts for 1.2% of Sustainable Growth Advisers LP's portfolio, making the stock its 29th largest position. Sustainable Growth Advisers LP owned about 0.12% of American Express worth $222,637,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS increased its holdings in American Express by 6.7% during the first quarter. KLP Kapitalforvaltning AS now owns 221,379 shares of the payment services company's stock valued at $59,562,000 after buying an additional 13,900 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of American Express by 1.5% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 640,889 shares of the payment services company's stock valued at $172,431,000 after acquiring an additional 9,679 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in American Express during the 1st quarter worth approximately $1,180,000. Hartford Funds Management Co LLC lifted its position in shares of American Express by 1.8% in the first quarter. Hartford Funds Management Co LLC now owns 10,159 shares of the payment services company's stock valued at $2,733,000 after acquiring an additional 181 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of American Express by 3.1% during the first quarter. Ignite Planners LLC now owns 4,776 shares of the payment services company's stock worth $1,282,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 84.33% of the company's stock.
Insider Transactions at American Express
In other news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider directly owned 9,402 shares of the company's stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider owned 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.
American Express Stock Performance
Shares of AXP stock traded down $0.45 during trading hours on Thursday, hitting $308.21. The company's stock had a trading volume of 2,287,638 shares, compared to its average volume of 2,774,372. The company has a 50 day moving average of $304.49 and a 200 day moving average of $291.25. The stock has a market cap of $214.48 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. The company has a current ratio of 1.61, a quick ratio of 1.69 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the previous year, the business posted $3.49 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio is presently 23.02%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Barclays raised their price target on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a report on Monday. Finally, Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, American Express currently has an average rating of "Hold" and an average price target of $311.05.
Read Our Latest Analysis on AXP
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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