American Express Company (AXP) Shares Sold by Trustco Bank Corp N Y
Trustco Bank Corp N Y decreased its position in American Express Company (NYSE:AXP) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,725 shares of the payment services company’s stock after selling 350 shares during the quarter. Trustco Bank Corp N Y’s holdings in American Express were worth $1,072,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MCF Advisors LLC raised its position in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares during the period. Appleton Partners Inc. MA raised its position in American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after purchasing an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in American Express by 0.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares during the period. Bath Savings Trust Co raised its position in American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after purchasing an additional 14 shares during the period. Finally, Accredited Investors Inc. raised its position in American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after purchasing an additional 15 shares during the period. 83.06% of the stock is currently owned by institutional investors.
In related news, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the sale, the insider now owns 289,996 shares in the company, valued at $27,465,521.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,845 shares of company stock valued at $13,197,233. 0.67% of the stock is owned by insiders.
A number of analysts have recently weighed in on the company. Morgan Stanley cut their price objective on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Bank of America Corporation reaffirmed a “buy” rating and set a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, BidaskClub lowered American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (AXP) opened at $96.43 on Friday. American Express Company has a 12 month low of $65.03 and a 12 month high of $96.57. The firm has a market cap of $83.70 billion, a PE ratio of 18.39, a PEG ratio of 1.60 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. research analysts expect that American Express Company will post 5.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is presently 27.03%.
About American Express
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).
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