Estabrook Capital Management Decreases Holdings in American Express (AXP)
Estabrook Capital Management trimmed its holdings in American Express (NYSE:AXP) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,415 shares of the payment services company’s stock after selling 1,000 shares during the quarter. Estabrook Capital Management’s holdings in American Express were worth $611,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new position in American Express in the 4th quarter worth approximately $25,000. JNBA Financial Advisors purchased a new position in American Express in the 4th quarter worth approximately $26,000. Capital Investment Advisory Services LLC purchased a new position in American Express in the 4th quarter worth approximately $37,000. Vigilant Capital Management LLC purchased a new position in American Express in the 4th quarter worth approximately $38,000. Finally, WESPAC Advisors SoCal LLC lifted its stake in American Express by 305.0% in the 4th quarter. WESPAC Advisors SoCal LLC now owns 405 shares of the payment services company’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. 84.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the sale, the executive vice president now owns 7,591 shares in the company, valued at approximately $813,072.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The firm had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same quarter in the prior year, the business earned $1.58 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that American Express will post 8.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a $0.39 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 1.37%. American Express’s dividend payout ratio (DPR) is presently 21.28%.
A number of research analysts have weighed in on AXP shares. Bank of America lowered shares of American Express from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $115.00 in a research note on Wednesday, December 19th. Morgan Stanley decreased their target price on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 8th. Wells Fargo & Co decreased their target price on shares of American Express from $122.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, January 3rd. Credit Suisse Group reissued a “hold” rating and issued a $93.00 target price on shares of American Express in a research note on Friday, January 18th. Finally, Atlantic Securities upgraded shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price target for the company in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $111.66.
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American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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