Tocqueville Asset Management L.P. Has $4.57 Million Position in American Express Company (AXP)
Tocqueville Asset Management L.P. reduced its stake in shares of American Express Company (NYSE:AXP) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,563 shares of the payment services company’s stock after selling 1,916 shares during the period. Tocqueville Asset Management L.P.’s holdings in American Express were worth $4,574,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in AXP. Vanguard Group Inc. grew its holdings in American Express by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after acquiring an additional 731,428 shares during the period. BlackRock Inc. grew its holdings in American Express by 1.1% during the 2nd quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after acquiring an additional 508,030 shares during the period. Wellington Management Group LLP grew its holdings in American Express by 21.7% during the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after acquiring an additional 3,071,573 shares during the period. First Eagle Investment Management LLC grew its holdings in American Express by 0.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock worth $1,376,719,000 after acquiring an additional 103,546 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in American Express by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock worth $1,044,577,000 after acquiring an additional 300,042 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Company (NYSE:AXP) opened at $99.37 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The company has a market cap of $85,931.63, a P/E ratio of 18.97, a P/E/G ratio of 1.65 and a beta of 1.22. American Express Company has a 1-year low of $73.11 and a 1-year high of $99.75.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $8.44 billion for 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%. American Express’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. analysts expect that American Express Company will post 5.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued 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 1.41%. American Express’s dividend payout ratio (DPR) is presently 26.97%.
In other American Express news, insider James Peter Bush sold 13,548 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $97.60, for a total transaction of $1,322,284.80. Following the sale, the insider now owns 90,052 shares of the company’s stock, valued at approximately $8,789,075.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Sobbott sold 5,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were 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. Insiders sold a total of 211,199 shares of company stock worth $19,978,410 in the last ninety days. 0.67% of the stock is currently owned by insiders.
A number of analysts have weighed in on the company. Bank of America increased their price target on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group reiterated an “in-line” rating and set a $93.00 price target (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Wednesday, November 1st. Finally, Wells Fargo & Company began coverage on American Express in a report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 price target for the company. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and an average target price of $91.56.
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About American Express
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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