Estabrook Capital Management Has $827,000 Stake in American Express Company (AXP)
Estabrook Capital Management held its stake in American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,815 shares of the payment services company’s stock at the close of the second quarter. Estabrook Capital Management’s holdings in American Express were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. MCF Advisors LLC increased its position in shares of American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new position in shares of American Express during the second quarter worth $115,000. MV Capital Management Inc. increased its position in shares of American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after purchasing an additional 49 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares in the last quarter. 83.06% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Ashwini Gupta sold 90,658 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total transaction of $8,586,219.18. Following the sale, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Linda Zukauckas sold 3,196 shares of American Express stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,845 shares of company stock worth $13,197,233. 0.67% of the stock is owned by insiders.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s payout ratio is currently 26.97%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Wednesday. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a report on Tuesday, October 24th. Jefferies Group LLC boosted their price objective on shares of American Express from $64.75 to $93.35 and gave the company a “hold” rating in a report on Friday, October 20th. Royal Bank Of Canada boosted their price objective on shares of American Express to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 19th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $98.00 price objective on shares of American Express in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $91.56.
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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