Raymond James Financial Services Advisors Inc. Has $8.97 Million Stake in American Express Company (AXP)
Raymond James Financial Services Advisors Inc. lessened its position in American Express Company (NYSE:AXP) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,146 shares of the payment services company’s stock after selling 6,434 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in American Express were worth $8,969,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. MCF Advisors LLC lifted its position in American Express by 0.3% during the second 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 period. Farmers & Merchants Trust Co of Chambersburg PA lifted its position 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 valued at $109,000 after purchasing an additional 300 shares during the period. Capital Analysts LLC bought a new position in American Express during the second quarter valued at approximately $115,000. MV Capital Management Inc. lifted 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 during the period. Finally, Westside Investment Management Inc. lifted its position in American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at $98.55 on Friday. American Express Company has a twelve month low of $73.11 and a twelve month high of $99.75. The company has a market cap of $85,567.07, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating 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 firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. equities research analysts predict that American Express Company will post 5.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. American Express’s dividend payout ratio (DPR) is presently 26.97%.
A number of brokerages recently weighed in on AXP. Bank of America increased their price objective on shares of American Express from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and set a $93.00 price objective (up previously from $85.00) on shares of American Express in a research report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company began coverage on shares of American Express in a research report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $91.56.
In other news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Sobbott sold 5,500 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $94.34, for a total transaction of $518,870.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,199 shares of company stock valued at $19,978,410. Corporate insiders own 0.67% of the company’s stock.
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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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