Sigma Planning Corp grew its stake in American Express (NYSE:AXP) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,541 shares of the payment services company’s stock after purchasing an additional 538 shares during the period. Sigma Planning Corp’s holdings in American Express were worth $2,733,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of American Express by 5.1% in the 2nd quarter. BlackRock Inc. now owns 48,691,683 shares of the payment services company’s stock worth $8,045,326,000 after buying an additional 2,355,868 shares in the last quarter. Vanguard Group Inc. grew its position in American Express by 0.7% in the second quarter. Vanguard Group Inc. now owns 47,924,310 shares of the payment services company’s stock valued at $7,918,535,000 after acquiring an additional 314,888 shares during the period. Fisher Asset Management LLC raised its stake in American Express by 1.2% during the second quarter. Fisher Asset Management LLC now owns 15,370,083 shares of the payment services company’s stock worth $2,539,599,000 after acquiring an additional 185,909 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of American Express by 2.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,961,484 shares of the payment services company’s stock valued at $1,833,273,000 after acquiring an additional 296,189 shares during the period. Finally, FMR LLC boosted its stake in shares of American Express by 42.8% in the 2nd quarter. FMR LLC now owns 11,781,138 shares of the payment services company’s stock valued at $1,946,597,000 after purchasing an additional 3,533,898 shares in the last quarter. Institutional investors own 84.62% of the company’s stock.
AXP has been the topic of a number of recent analyst reports. DZ Bank lowered shares of American Express from a “buy” rating to a “hold” rating and set a $170.00 price target on the stock. in a research report on Thursday, June 17th. Credit Suisse Group restated an “underperform” rating and issued a $173.92 target price (up from $135.00) on shares of American Express in a research note on Monday, July 26th. Seaport Global Securities started coverage on shares of American Express in a research report on Monday, August 30th. They set a “neutral” rating on the stock. Barclays raised their price objective on shares of American Express from $166.00 to $168.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, The Goldman Sachs Group raised shares of American Express from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $225.00 in a research note on Tuesday, July 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.75.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $1.16. American Express had a return on equity of 26.15% and a net margin of 18.72%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter last year, the company earned $0.29 EPS. American Express’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts forecast that American Express will post 8.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 10th. Stockholders of record on Friday, October 8th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, October 7th. American Express’s dividend payout ratio is currently 32.21%.
In other American Express news, CFO Jeffrey C. Campbell sold 74,677 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $170.48, for a total transaction of $12,730,934.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marc D. Gordon sold 13,424 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
About American Express
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
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