Huntington National Bank decreased its stake in shares of American Express Co. (NYSE:AXP) by 29.1% during the second quarter, Holdings Channel reports. The institutional investor owned 177,405 shares of the payment services company’s stock after selling 72,647 shares during the period. Huntington National Bank’s holdings in American Express were worth $10,779,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock valued at $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. Dodge & Cox raised its stake in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock valued at $1,618,520,000 after buying an additional 9,222,970 shares in the last quarter. Franklin Resources Inc. raised its stake in American Express by 248.1% in the first quarter. Franklin Resources Inc. now owns 5,345,813 shares of the payment services company’s stock valued at $328,233,000 after buying an additional 3,810,315 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in American Express during the first quarter valued at about $66,459,000. Finally, Bank of Montreal Can acquired a new stake in American Express during the second quarter valued at about $61,068,000. 82.17% of the stock is owned by institutional investors.
Shares of American Express Co. (NYSE:AXP) traded down 0.18% during mid-day trading on Wednesday, hitting $60.75. The stock had a trading volume of 2,137,066 shares. The company’s 50 day moving average is $64.29 and its 200-day moving average is $63.65. The stock has a market cap of $56.12 billion, a P/E ratio of 10.75 and a beta of 1.24. American Express Co. has a 52-week low of $50.27 and a 52-week high of $77.61.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 earnings per share. On average, equities research analysts anticipate that American Express Co. will post $5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 annualized dividend and a yield of 2.10%. This is an increase from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is presently 22.54%.
Several equities research analysts recently issued reports on AXP shares. Vetr raised American Express from a “buy” rating to a “strong-buy” rating and set a $67.47 price objective for the company in a research note on Monday, June 27th. Nomura lowered American Express from a “neutral” rating to a “reduce” rating and dropped their price objective for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. Wells Fargo & Co. reissued a “hold” rating and set a $65.00 price objective on shares of American Express in a research note on Sunday, July 10th. Credit Suisse Group AG reissued a “sell” rating and set a $62.00 price objective on shares of American Express in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of American Express in a research note on Sunday, July 24th. Eight equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.46.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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