Valeo Financial Advisors LLC Acquires Shares of 4,282 American Express Company (AXP)
Valeo Financial Advisors LLC acquired a new stake in American Express Company (NYSE:AXP) during the third quarter, HoldingsChannel.com reports. The fund acquired 4,282 shares of the payment services company’s stock, valued at approximately $387,000.
A number of other large investors have also recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in American Express by 8.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,420 shares of the payment services company’s stock valued at $3,750,000 after acquiring an additional 3,399 shares during the period. Foyston Gordon & Payne Inc lifted its holdings in American Express by 38.8% in the third quarter. Foyston Gordon & Payne Inc now owns 229,473 shares of the payment services company’s stock valued at $20,758,000 after acquiring an additional 64,199 shares during the period. Highbridge Capital Management LLC lifted its holdings in American Express by 281.0% in the third quarter. Highbridge Capital Management LLC now owns 12,064 shares of the payment services company’s stock valued at $1,091,000 after acquiring an additional 8,898 shares during the period. Zions Bancorporation lifted its holdings in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in American Express by 55.9% in the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after acquiring an additional 959,824 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
American Express Company (NYSE:AXP) opened at $100.15 on Tuesday. American Express Company has a one year low of $75.39 and a one year high of $101.65. The firm has a market cap of $86,930.00, a PE ratio of 19.33, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.90, a current 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 earnings per share 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 quarter in the previous year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts expect that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, January 4th. American Express’s payout ratio is 27.03%.
AXP has been the subject of several research reports. Credit Suisse Group reaffirmed an “underperform” rating and set a $84.00 price target (up previously from $79.00) on shares of American Express in a research note on Thursday, October 19th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Bank of America reaffirmed a “buy” rating and set a $102.00 price target on shares of American Express in a research note on Monday, October 9th. Morgan Stanley lifted their price target on American Express from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 19th. Finally, Buckingham Research initiated coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.44.
In related news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the transaction, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Insiders sold a total of 442,869 shares of company stock valued at $42,823,869 in the last three months. 0.67% of the stock is currently owned by corporate insiders.
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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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