M&R Capital Management Inc. Has $323,000 Holdings in American Express Company (AXP)
M&R Capital Management Inc. trimmed its position in American Express Company (NYSE:AXP) by 22.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,840 shares of the payment services company’s stock after selling 1,119 shares during the period. M&R Capital Management Inc.’s holdings in American Express were worth $323,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AXP. Schroder Investment Management Group boosted its holdings in American Express by 30.5% in the 1st quarter. Schroder Investment Management Group now owns 1,696,152 shares of the payment services company’s stock valued at $134,352,000 after purchasing an additional 396,091 shares during the period. Bank of Hawaii lifted its holdings in shares of American Express by 50.7% during the 1st quarter. Bank of Hawaii now owns 26,097 shares of the payment services company’s stock worth $2,065,000 after acquiring an additional 8,781 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of American Express by 21.2% during the 1st quarter. Blair William & Co. IL now owns 202,850 shares of the payment services company’s stock worth $16,191,000 after acquiring an additional 35,524 shares during the last quarter. Accredited Investors Inc. lifted its holdings in shares of American Express by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after acquiring an additional 15 shares during the last quarter. Finally, ProVise Management Group LLC lifted its holdings in shares of American Express by 2.2% during the 1st quarter. ProVise Management Group LLC now owns 73,332 shares of the payment services company’s stock worth $5,801,000 after acquiring an additional 1,552 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.
In other American Express news, insider James Peter Bush sold 10,230 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the business’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 disclosure for this sale can be found here. Insiders sold 146,345 shares of company stock worth $13,716,103 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.
AXP has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a report on Thursday, October 19th. Bank of America Corporation reaffirmed a “buy” rating and set a $102.00 price objective on shares of American Express in a report on Monday, October 9th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Buckingham Research initiated coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price objective for the company. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $91.56.
Shares of American Express Company (AXP) opened at $93.48 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $81,140.27, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22. American Express Company has a one year low of $71.38 and a one year high of $96.90.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts anticipate that American Express Company will post 5.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a $0.35 dividend. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. American Express’s payout ratio is presently 26.97%.
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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