Roosevelt Investment Group Inc. Sells 3,729 Shares of American Express Company (AXP)
Roosevelt Investment Group Inc. lowered its holdings in shares of American Express Company (NYSE:AXP) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,198 shares of the payment services company’s stock after selling 3,729 shares during the quarter. Roosevelt Investment Group Inc.’s holdings in American Express were worth $8,778,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc RI raised its holdings in shares of American Express by 1.2% during the 2nd quarter. Citizens Financial Group Inc RI now owns 11,054 shares of the payment services company’s stock valued at $931,000 after purchasing an additional 129 shares in the last quarter. Peregrine Asset Advisers Inc. bought a new position in shares of American Express during the 2nd quarter valued at $4,276,000. Capital Wealth Planning LLC bought a new position in shares of American Express during the 2nd quarter valued at $15,941,000. Matthew Goff Investment Advisor LLC raised its holdings in shares of American Express by 7.3% during the 2nd quarter. Matthew Goff Investment Advisor LLC now owns 34,495 shares of the payment services company’s stock valued at $2,906,000 after purchasing an additional 2,347 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of American Express by 0.3% during the 2nd quarter. Stephens Inc. AR now owns 65,649 shares of the payment services company’s stock valued at $5,530,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.
AXP has been the topic of a number of recent research reports. Barclays PLC restated a “buy” rating and set a $83.00 price target on shares of American Express in a report on Thursday, July 20th. Guggenheim restated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 29th. 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, Bank of America Corporation restated a “buy” rating and set a $102.00 price target on shares of American Express in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $91.56.
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In related news, insider Susan Sobbott sold 6,000 shares of American Express 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The disclosure for this sale can be found here. Insiders have sold a total of 140,845 shares of company stock valued at $13,197,233 over the last three months. 0.67% of the stock is currently owned by insiders.
American Express Company (AXP) opened at $96.29 on Tuesday. American Express Company has a 1-year low of $65.03 and a 1-year high of $96.73. The stock has a market cap of $83,700.88, a PE ratio of 18.47, a P/E/G ratio of 1.61 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 quarterly 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. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts predict that American Express Company will post 5.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.35 per share. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is currently 26.97%.
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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