Bank Hapoalim BM Boosts Stake in American Express Company (AXP)
Bank Hapoalim BM lifted its position in American Express Company (NYSE:AXP) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,954 shares of the payment services company’s stock after purchasing an additional 129 shares during the quarter. Bank Hapoalim BM’s holdings in American Express were worth $502,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC boosted its holdings in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in American Express by 30.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC purchased a new stake in American Express during the 2nd quarter valued at about $115,000. SRS Capital Advisors Inc. boosted its holdings in American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares during the period. Hedge funds and other institutional investors own 84.66% of the company’s stock.
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AXP has been the subject of several analyst reports. Morgan Stanley dropped their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 target price (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Bank of America Corporation restated a “buy” rating and set a $102.00 target price on shares of American Express in a report on Monday, October 9th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, BidaskClub cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average target price of $91.56.
In other American Express news, insider Susan Sobbott sold 6,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,845 shares of company stock worth $13,197,233. Company insiders own 0.67% of the company’s stock.
American Express Company (NYSE AXP) opened at $93.52 on Friday. 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 Company has a 52-week low of $69.65 and a 52-week high of $96.90. The firm has a market capitalization of $81,174.98, a P/E ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the business posted $1.24 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. equities analysts forecast that American Express Company will post 5.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.50%. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 5th. American Express’s dividend payout ratio (DPR) is currently 26.97%.
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).
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