HL Financial Services LLC Sells 1,222 Shares of American Express Company (AXP)
HL Financial Services LLC trimmed its holdings in shares of American Express Company (NYSE:AXP) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,575 shares of the payment services company’s stock after selling 1,222 shares during the period. HL Financial Services LLC’s holdings in American Express were worth $807,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Waldron LP purchased a new position in shares of American Express in the 1st quarter valued at $246,000. Stoneridge Investment Partners LLC acquired a new position in shares of American Express during the 1st quarter valued at $3,190,000. Blue Fin Capital Inc. lifted its holdings in shares of American Express by 1.0% during the 1st quarter. Blue Fin Capital Inc. now owns 8,739 shares of the payment services company’s stock valued at $691,000 after acquiring an additional 84 shares in the last quarter. Heartland Advisors Inc. lifted its holdings in shares of American Express by 0.4% during the 1st quarter. Heartland Advisors Inc. now owns 159,555 shares of the payment services company’s stock valued at $12,622,000 after acquiring an additional 559 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC lifted its holdings in shares of American Express by 9.1% during the 1st quarter. Klingenstein Fields & Co. LLC now owns 372,299 shares of the payment services company’s stock valued at $29,452,000 after acquiring an additional 31,130 shares in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on AXP shares. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Buckingham Research started coverage on American Express in a research report on Monday. They issued a “neutral” rating and a $92.00 price objective on the stock. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, August 29th. Instinet restated an “underperform” rating and set a $80.00 price objective on shares of American Express in a research note on Thursday, June 29th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $83.00 target price on shares of American Express in a research report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $86.53.
In other American Express news, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the transaction, the insider now owns 261,665 shares of the company’s stock, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. In the last three months, insiders sold 949,387 shares of company stock worth $80,451,099. 0.67% of the stock is currently owned by insiders.
American Express Company (NYSE AXP) opened at 90.54 on Tuesday. The company has a market capitalization of $80.04 billion, a price-to-earnings ratio of 18.57 and a beta of 1.21. American Express Company has a 12-month low of $59.50 and a 12-month high of $91.17. The stock’s 50 day moving average price is $86.79 and its 200 day moving average price is $82.26.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. On average, equities research analysts anticipate that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. This is a boost from American Express’s previous quarterly dividend of $0.32. American Express’s payout ratio is presently 26.18%.
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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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