Global Financial Private Capital LLC trimmed its holdings in American Express (NYSE:AXP) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,450 shares of the payment services company’s stock after selling 11,960 shares during the quarter. Global Financial Private Capital LLC’s holdings in American Express were worth $2,712,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new stake in shares of American Express during the 4th quarter valued at approximately $37,000. Vigilant Capital Management LLC purchased a new stake in shares of American Express during the 4th quarter valued at approximately $38,000. Contravisory Investment Management Inc. raised its position in shares of American Express by 187.7% during the 4th quarter. Contravisory Investment Management Inc. now owns 446 shares of the payment services company’s stock valued at $43,000 after buying an additional 291 shares during the period. Financial Advantage Inc. purchased a new stake in shares of American Express during the 4th quarter valued at approximately $64,000. Finally, Ironwood Financial llc raised its position in shares of American Express by 19.4% during the 4th quarter. Ironwood Financial llc now owns 731 shares of the payment services company’s stock valued at $70,000 after buying an additional 119 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $103.02, for a total value of $1,287,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). American Express had a net margin of 17.08% and a return on equity of 30.45%. The company had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same quarter last year, the business posted $1.58 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that American Express will post 8.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 4th were issued a $0.39 dividend. The ex-dividend date was Thursday, January 3rd. This represents a $1.56 annualized dividend and a yield of 1.48%. American Express’s dividend payout ratio (DPR) is presently 21.28%.
Several research firms have recently commented on AXP. BMO Capital Markets lifted their price target on shares of American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, October 19th. Credit Suisse Group reaffirmed a “hold” rating and set a $93.00 price target on shares of American Express in a research report on Friday, January 18th. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Barclays set a $118.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Friday, December 14th. Finally, Wells Fargo & Co reduced their price target on shares of American Express from $122.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. American Express has a consensus rating of “Hold” and an average price target of $110.84.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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