ProShare Advisors LLC Has $21.10 Million Stake in American Express Company (AXP)
ProShare Advisors LLC trimmed its holdings in American Express Company (NYSE:AXP) by 13.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,450 shares of the payment services company’s stock after selling 39,125 shares during the period. ProShare Advisors LLC’s holdings in American Express were worth $21,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC raised its position in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares in the last quarter. Capital Analysts LLC acquired a new stake in shares of American Express in the second quarter valued at approximately $115,000. MV Capital Management Inc. raised its position 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 valued at $122,000 after purchasing an additional 49 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in 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 valued at $116,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 84.66% of the company’s stock.
American Express Company (AXP) opened at $93.52 on Friday. The stock has a market cap of $81,374.65, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express Company has a fifty-two week low of $69.65 and a fifty-two week high of $96.90.
American Express (NYSE:AXP) last released its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. American Express’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. equities analysts expect that American Express Company will post 5.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were issued a $0.35 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.40 annualized dividend and a yield of 1.50%. American Express’s payout ratio is presently 26.97%.
Several research analysts have commented on AXP shares. Morgan Stanley lowered 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 research report on Friday, September 8th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price objective (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Bank of America Corporation restated a “buy” rating and set a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, BidaskClub downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $91.56.
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In other news, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Susan Sobbott sold 6,000 shares of the company’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. In the last 90 days, insiders sold 140,845 shares of company stock worth $13,197,233. 0.67% of the stock is owned by company insiders.
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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