Mizuho Securities USA LLC acquired a new position in American Express Company (NYSE:AXP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,307 shares of the payment services company’s stock, valued at approximately $1,385,000.
Several other institutional investors also recently modified their holdings of the company. Evermay Wealth Management LLC purchased a new stake in shares of American Express in the third quarter worth approximately $339,000. Adviser Investments LLC raised its stake in shares of American Express by 76.1% in the third quarter. Adviser Investments LLC now owns 11,360 shares of the payment services company’s stock worth $1,028,000 after purchasing an additional 4,908 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of American Express by 22.3% in the third quarter. APG Asset Management N.V. now owns 3,183,933 shares of the payment services company’s stock worth $288,019,000 after purchasing an additional 580,200 shares during the last quarter. Barometer Capital Management Inc. purchased a new stake in shares of American Express in the third quarter worth approximately $10,846,000. Finally, Hall Capital Management Co. Inc. purchased a new stake in shares of American Express in the third quarter worth approximately $205,000. 83.35% of the stock is owned by hedge funds and other institutional investors.
In other American Express news, EVP Linda Zukauckas sold 3,196 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $95.42, for a total transaction of $304,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,199 shares of company stock valued at $20,484,750. 0.67% of the stock is owned by corporate insiders.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the prior year, the company earned $1.24 earnings per share. American Express’s revenue was up 8.5% compared to the same quarter last year. equities research analysts predict that American Express Company will post 5.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is 26.97%.
Several brokerages have recently commented on AXP. Stephens set a $89.00 price objective on American Express and gave the stock a “hold” rating in a research note on Thursday, October 19th. Buckingham Research started coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 target price for the company. ValuEngine lowered American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods set a $95.00 target price on American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, BidaskClub raised American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.56.
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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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