Tower Research Capital LLC TRC Takes Position in American Express Company (AXP)
Tower Research Capital LLC TRC acquired a new stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,651 shares of the payment services company’s stock, valued at approximately $982,000.
Several other large investors 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 worth $108,000 after buying 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 worth $109,000 after buying an additional 300 shares during the period. Capital Analysts LLC purchased a new position in American Express during the second quarter worth about $115,000. SRS Capital Advisors Inc. lifted 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 worth $116,000 after buying an additional 138 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 worth $119,000 after buying an additional 410 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.
AXP has been the topic of a number of research reports. BidaskClub downgraded American Express from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $95.00 price objective 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 $96.00 price objective on the stock in a report on Tuesday, August 29th. Morgan Stanley cut their price objective on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Finally, Buckingham Research initiated coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $91.56.
Shares of American Express Company (AXP) opened at $93.48 on Friday. American Express Company has a 12 month low of $71.38 and a 12 month high of $96.90. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $81,435.41, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter last year, the firm earned $1.24 EPS. American Express’s quarterly revenue was up 8.5% on a year-over-year basis. equities research analysts forecast that American Express Company will post 5.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is 26.97%.
In other American Express news, insider James Peter Bush sold 10,230 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,345 shares of company stock valued at $13,716,103. 0.67% of the stock is owned by insiders.
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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