First Eagle Investment Management LLC reduced its stake in American Express Company (NYSE:AXP) by 20.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,939,595 shares of the payment services company’s stock after selling 3,403,227 shares during the period. American Express comprises 2.6% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 6th largest position. First Eagle Investment Management LLC owned 1.49% of American Express worth $1,170,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of American Express by 2,686.0% in the 1st quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares during the last quarter. Veritas Asset Management LLP grew its position in shares of American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of American Express in the 2nd quarter worth approximately $101,526,000. Canada Pension Plan Investment Board grew its position in shares of American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after buying an additional 1,077,033 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of American Express by 11,602.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock worth $75,909,000 after buying an additional 893,400 shares during the last quarter. 83.35% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares in the company, valued at $114,651,800.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. Insiders sold 440,310 shares of company stock valued at $42,478,329 in the last 90 days. Company insiders own 0.67% of the company’s stock.

American Express Company (AXP) opened at $98.51 on Thursday. The stock has a market capitalization of $86,061.83, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. American Express Company has a one year low of $73.50 and a one year high of $100.53. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 earnings per share. equities research analysts forecast that American Express Company will post 5.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is currently 26.97%.

A number of brokerages have recently weighed in on AXP. Bank of America lifted their price objective on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Barclays set a $93.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Jefferies Group reiterated an “in-line” rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Buckingham Research began coverage on American Express in a research report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and a consensus price target of $92.44.

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American Express Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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