American Express Company (AXP) Stake Lessened by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC lowered its position in shares of American Express Company (NYSE:AXP) by 17.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,011,170 shares of the payment services company’s stock after selling 220,580 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.11% of American Express worth $85,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Matthew Goff Investment Advisor LLC acquired a new stake in American Express in the 1st quarter valued at approximately $2,543,000. Bronfman E.L. Rothschild L.P. increased its holdings in American Express by 10.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock valued at $478,000 after purchasing an additional 554 shares during the last quarter. Vanguard Group Inc. increased its holdings in American Express by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after purchasing an additional 722,235 shares during the last quarter. Rothschild Asset Management Inc. increased its holdings in American Express by 19.5% in the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after purchasing an additional 104,647 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in American Express in the 2nd quarter valued at approximately $215,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $93.69 on Friday. American Express Company has a 1 year low of $70.77 and a 1 year high of $96.90. The firm has a market cap of $81,210.00, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a quick ratio of 1.90, a current 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 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. equities analysts predict that American Express Company will post 5.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio is presently 27.03%.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Wednesday, November 1st. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price for the company in a report on Tuesday, October 24th. Jefferies Group LLC reiterated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Credit Suisse Group reiterated an “underperform” rating and issued a $84.00 target price (up previously from $79.00) on shares of American Express in a report on Thursday, October 19th. Finally, Stephens set a $89.00 target price on shares of American Express and gave the company a “hold” rating in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $91.56.
In other news, insider Ashwini Gupta sold 90,658 shares of the company’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 directly owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Insiders sold 146,345 shares of company stock valued at $13,716,103 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.
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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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