PDT Partners LLC grew its stake in shares of American Express Company (NYSE:AXP) by 8.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 289,198 shares of the payment services company’s stock after buying an additional 23,398 shares during the quarter. American Express makes up 1.0% of PDT Partners LLC’s holdings, making the stock its 13th biggest holding. PDT Partners LLC’s holdings in American Express were worth $24,362,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MCF Advisors LLC grew its stake in shares of American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after purchasing an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of American Express in the second quarter worth $115,000. SRS Capital Advisors Inc. grew its stake in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Wednesday, November 1st. Atlantic Securities raised shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price objective on the stock in a research note on Tuesday, October 24th. Jefferies Group LLC boosted their price objective on shares of American Express from $64.75 to $93.35 and gave the stock a “hold” rating in a research note on Friday, October 20th. Royal Bank Of Canada boosted their price objective on shares of American Express to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 19th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $98.00 price objective on shares of American Express in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $91.56.
In other American Express news, insider Susan Sobbott sold 5,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $94.34, for a total value of $518,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Linda Zukauckas sold 3,196 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The disclosure for this sale can be found here. Insiders sold a total of 146,345 shares of company stock valued at $13,716,103 over the last ninety days. 0.67% of the stock is currently owned by insiders.
Shares of American Express Company (NYSE:AXP) opened at $93.69 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express Company has a fifty-two week low of $70.77 and a fifty-two week high of $96.90. The firm has a market cap of $81,322.55, a PE ratio of 17.95, a P/E/G ratio of 1.56 and a beta of 1.22.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. analysts expect that American Express Company will post 5.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. This is an increase from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 5th. American Express’s dividend payout ratio is presently 26.97%.
American Express Company Profile
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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