Guardian Capital LP Increases Position in American Express Company (AXP)
Guardian Capital LP increased its position in American Express Company (NYSE:AXP) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,619 shares of the payment services company’s stock after purchasing an additional 886 shares during the quarter. Guardian Capital LP’s holdings in American Express were worth $1,594,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in 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 buying an additional 300 shares during the last quarter. Capital Analysts LLC bought a new position in American Express during the second quarter worth about $115,000. Zions Bancorporation boosted its holdings in American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after buying an additional 1,205 shares during the last quarter. MV Capital Management Inc. boosted its holdings in 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 buying an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.
In related news, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the sale, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last three months, insiders sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is owned by insiders.
A number of equities analysts have issued reports on the company. Barclays set a $93.00 target price on American Express and gave the stock a “hold” rating in a report on Thursday, October 19th. Bank of America raised their target price on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and set a $93.00 target price (up previously from $85.00) on shares of American Express in a report on Thursday, October 19th. Buckingham Research assumed coverage on American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price on the stock. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $97.84.
American Express Company (AXP) opened at $100.52 on Wednesday. American Express Company has a 1-year low of $75.39 and a 1-year high of $101.65. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $87,250.00, a PE ratio of 19.41, a PEG ratio of 1.49 and a beta of 1.22.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $8.31 billion. During the same quarter last year, the firm earned $1.24 EPS. American Express’s revenue for the quarter was up 8.5% compared to the same quarter last year. analysts forecast that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is presently 27.03%.
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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