Public Sector Pension investment Board Sells 206,900 Shares of American Express Company (AXP)
Public Sector Pension investment Board trimmed its holdings in shares of American Express Company (NYSE:AXP) by 70.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,465 shares of the payment services company’s stock after selling 206,900 shares during the quarter. Public Sector Pension investment Board’s holdings in American Express were worth $7,200,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC grew its holdings in American Express by 0.3% during the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares during the last quarter. Appleton Partners Inc. MA grew its holdings in American Express by 0.3% during the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after purchasing an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in American Express by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares during the last quarter. Bath Savings Trust Co grew its holdings in American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after purchasing an additional 14 shares during the last quarter. Finally, Accredited Investors Inc. grew its holdings in American Express by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at $93.52 on Monday. The company has a market cap of $81,175.00, a P/E ratio of 17.92, a P/E/G ratio of 1.56 and a beta of 1.22. American Express Company has a 52-week low of $69.65 and a 52-week high of $96.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.90 and a current ratio of 1.90.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. equities analysts forecast that American Express Company will post 5.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.35 dividend. 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%. This is a boost from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is currently 26.97%.
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Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Wednesday, November 1st. Stephens set a $89.00 price target on shares of American Express and gave the company a “hold” rating in a report on Thursday, October 19th. Buckingham Research assumed coverage on shares of American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $91.56.
In other American Express news, insider Ashwini Gupta sold 90,658 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $94.71, for a total value of $8,586,219.18. Following the completion of the transaction, the insider now owns 289,996 shares of the company’s stock, valued at $27,465,521.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was 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 ninety days, insiders sold 140,845 shares of company stock valued at $13,197,233. Corporate insiders own 0.67% of the company’s stock.
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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