Longview Partners Guernsey LTD cut its holdings in shares of American Express (NYSE:AXP) by 8.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,839,831 shares of the payment services company’s stock after selling 545,324 shares during the period. American Express makes up approximately 5.3% of Longview Partners Guernsey LTD’s investment portfolio, making the stock its 3rd biggest holding. Longview Partners Guernsey LTD’s holdings in American Express were worth $964,915,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of AXP. Cowen Prime Advisors LLC bought a new stake in shares of American Express during the second quarter worth about $33,000. Baldrige Asset Management LLC bought a new stake in shares of American Express during the second quarter worth about $39,000. Hillsdale Investment Management Inc. bought a new stake in shares of American Express during the second quarter worth about $50,000. Godsey & Gibb Associates bought a new stake in shares of American Express during the first quarter worth about $68,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of American Express by 22.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 509 shares of the payment services company’s stock worth $72,000 after acquiring an additional 92 shares in the last quarter. 84.62% of the stock is owned by institutional investors.
AXP has been the subject of several recent research reports. Daiwa Capital Markets downgraded shares of American Express from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, August 12th. Seaport Global Securities initiated coverage on shares of American Express in a research report on Monday, August 30th. They issued a “neutral” rating for the company. DZ Bank downgraded shares of American Express from a “buy” rating to a “hold” rating and set a $170.00 price objective for the company. in a research report on Thursday, June 17th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of American Express in a research report on Monday, August 30th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $173.92 price objective (up from $135.00) on shares of American Express in a research report on Monday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $171.75.
Shares of AXP stock traded up $2.13 during trading on Thursday, reaching $170.85. 122,801 shares of the company’s stock traded hands, compared to its average volume of 3,512,929. The company has a market capitalization of $135.73 billion, a P/E ratio of 19.62, a PEG ratio of 0.90 and a beta of 1.28. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average is $166.63 and its 200 day moving average is $162.16. American Express has a 1 year low of $89.11 and a 1 year high of $179.67.
American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, July 22nd. The payment services company reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $1.16. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.59 billion. American Express had a net margin of 18.72% and a return on equity of 26.15%. American Express’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. As a group, sell-side analysts predict that American Express will post 8.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 10th. Shareholders of record on Friday, October 8th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, October 7th. American Express’s dividend payout ratio is presently 32.21%.
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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