Clarkston Capital Partners LLC Sells 22,236 Shares of American Express Company (AXP)
Clarkston Capital Partners LLC reduced its position in shares of American Express Company (NYSE:AXP) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 370,009 shares of the payment services company’s stock after selling 22,236 shares during the quarter. American Express accounts for approximately 1.4% of Clarkston Capital Partners LLC’s holdings, making the stock its 27th biggest position. Clarkston Capital Partners LLC’s holdings in American Express were worth $33,471,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AXP. Matthew Goff Investment Advisor LLC purchased a new position in shares of American Express during the 1st quarter valued at about $2,543,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of American Express by 10.8% during 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 buying an additional 554 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Shelton Capital Management purchased a new position in American Express in the 2nd quarter worth approximately $670,000. Finally, Rothschild Asset Management Inc. lifted 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 worth $50,742,000 after purchasing an additional 104,647 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.
A number of research firms recently commented on AXP. Bank of America boosted their price target on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Barclays set a $93.00 price target on American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Jefferies Group reissued an “in-line” rating and issued a $93.00 price target (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Buckingham Research began coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price target on the stock. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (NYSE:AXP) opened at $99.00 on Tuesday. The stock has a market capitalization of $85,541.03, a P/E ratio of 18.88, a PEG ratio of 1.64 and a beta of 1.22. American Express Company has a twelve month low of $73.11 and a twelve month high of $99.75. 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 issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. equities research analysts predict that American Express Company will post 5.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is currently 26.97%.
In other news, EVP Linda Zukauckas sold 3,196 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Peter Bush sold 13,548 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $97.60, for a total value of $1,322,284.80. Following the transaction, the insider now directly owns 90,052 shares in the company, valued at approximately $8,789,075.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,199 shares of company stock worth $19,978,410. Corporate insiders own 0.67% of the company’s stock.
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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