UMB Bank N A MO Sells 24 Shares of American Express Company (AXP)
UMB Bank N A MO lowered its stake in American Express Company (NYSE:AXP) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,855 shares of the payment services company’s stock after selling 24 shares during the quarter. UMB Bank N A MO’s holdings in American Express were worth $2,093,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC grew its position in shares of American Express by 0.5% in the 1st quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after acquiring an additional 6 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in shares of American Express in the 1st quarter worth approximately $112,000. MV Capital Management Inc. grew its position in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of American Express by 10.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.
AXP has been the topic of several recent research reports. Morgan Stanley cut their price target 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. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reissued a “sell” rating on shares of American Express in a report on Wednesday, July 19th. BidaskClub downgraded American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Guggenheim reissued a “buy” rating and issued a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus target price of $86.48.
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American Express Company (NYSE:AXP) opened at 91.55 on Friday. The company’s 50 day moving average price is $87.34 and its 200 day moving average price is $82.57. The firm has a market cap of $80.93 billion, a PE ratio of 18.78 and a beta of 1.21. American Express Company has a 52-week low of $59.50 and a 52-week high of $91.64.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same period last year, the business posted $2.10 EPS. American Express’s revenue was up .9% on a year-over-year basis. Analysts predict that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.35 dividend. 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 1.53%. The ex-dividend date of this dividend is Thursday, October 5th. American Express’s dividend payout ratio (DPR) is 28.63%.
In related news, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the sale, the chief executive officer now directly owns 889,836 shares in the company, valued at approximately $75,297,922.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders sold a total of 959,617 shares of company stock valued at $81,377,425 over the last quarter. 0.67% of the stock is currently owned by company insiders.
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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