American Express Company (NYSE:AXP) Stake Decreased by Pecaut & CO.
Pecaut & CO. lowered its stake in American Express Company (NYSE:AXP) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 8,400 shares of the payment services company’s stock after selling 600 shares during the period. Pecaut & CO.’s holdings in American Express Company were worth $708,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of AXP. Loomis Sayles & Co. L P increased its stake in shares of American Express Company by 6.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 5,142,374 shares of the payment services company’s stock valued at $380,947,000 after buying an additional 334,030 shares during the period. Sciencast Management LP bought a new stake in shares of American Express Company during the fourth quarter valued at $376,000. GLG LLC increased its stake in shares of American Express Company by 6.8% in the fourth quarter. GLG LLC now owns 44,348 shares of the payment services company’s stock valued at $3,285,000 after buying an additional 2,819 shares during the period. Ellington Management Group LLC bought a new stake in shares of American Express Company during the fourth quarter valued at $541,000. Finally, Guggenheim Capital LLC increased its stake in shares of American Express Company by 26.4% in the fourth quarter. Guggenheim Capital LLC now owns 514,035 shares of the payment services company’s stock valued at $38,079,000 after buying an additional 107,482 shares during the period. Institutional investors own 82.60% of the company’s stock.
American Express Company (NYSE:AXP) opened at 85.025 on Monday. The stock’s 50 day moving average price is $79.57 and its 200-day moving average price is $78.20. American Express Company has a 52 week low of $59.50 and a 52 week high of $85.88. The stock has a market capitalization of $75.99 billion, a P/E ratio of 15.347 and a beta of 1.18.
American Express Company (NYSE:AXP) last posted its quarterly earnings results on Wednesday, April 19th. The payment services company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.06. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.76 billion. American Express Company had a return on equity of 25.24% and a net margin of 16.24%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 earnings per share. Equities research analysts expect that American Express Company will post $5.70 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 annualized dividend and a dividend yield of 1.50%. American Express Company’s dividend payout ratio is currently 23.19%.
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Several equities research analysts have weighed in on AXP shares. Tigress Financial restated a “neutral” rating on shares of American Express Company in a report on Friday, March 24th. Credit Suisse Group restated a “sell” rating and set a $76.00 price target on shares of American Express Company in a report on Friday, April 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $91.00 price objective on shares of American Express Company in a research report on Monday, April 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $87.00 price objective on shares of American Express Company in a research report on Thursday, April 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 price objective on shares of American Express Company in a research report on Saturday, April 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $83.53.
In other American Express Company news, insider Douglas E. Buckminster sold 3,000 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.24, for a total transaction of $237,720.00. Following the sale, the insider now directly owns 55,486 shares of the company’s stock, valued at approximately $4,396,710.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total transaction of $377,202.00. The disclosure for this sale can be found here. Insiders sold 54,850 shares of company stock worth $4,407,543 in the last ninety days. 0.67% of the stock is owned by corporate insiders.
American Express Company Company 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).
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