APG Asset Management N.V. Acquires 580,200 Shares of American Express Company (AXP)
APG Asset Management N.V. grew its holdings in shares of American Express Company (NYSE:AXP) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,183,933 shares of the payment services company’s stock after purchasing an additional 580,200 shares during the period. APG Asset Management N.V. owned about 0.36% of American Express worth $288,019,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of AXP. Barometer Capital Management Inc. acquired a new position in shares of American Express during the third quarter worth about $10,846,000. Hall Capital Management Co. Inc. acquired a new position in shares of American Express during the third quarter worth about $205,000. Honkamp Krueger Financial Services Inc. acquired a new position in shares of American Express during the third quarter worth about $267,000. Mountain Pacific Investment Advisers Inc. ID acquired a new position in shares of American Express during the third quarter worth about $202,000. Finally, Fisher Asset Management LLC grew its position in shares of American Express by 2.7% during the third quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after buying an additional 300,042 shares in the last quarter. Institutional investors own 83.35% of the company’s stock.
In other news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total value of $304,962.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashwini Gupta sold 90,658 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold 217,199 shares of company stock valued at $20,484,750 over the last three months. Corporate insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at $98.59 on Tuesday. The firm has a market capitalization of $84,942.11, a P/E ratio of 18.75, a PEG ratio of 1.63 and a beta of 1.22. American Express Company has a fifty-two week low of $71.99 and a fifty-two week high of $99.17. 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 posted its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 22.73% and a net margin of 14.48%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. sell-side analysts predict that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is currently 26.97%.
A number of equities analysts have recently commented on the company. Bank of America boosted 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 reissued an “in-line” rating and set a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Buckingham Research assumed coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price target for the company. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $91.56.
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American Express 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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