Cape Cod Five Cents Savings Bank cut its stake in shares of American Express Company (NYSE:AXP) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,280 shares of the payment services company’s stock after selling 855 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in American Express were worth $1,925,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. MCF Advisors LLC lifted its position in American Express by 0.3% during the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC purchased a new position in American Express during the second quarter valued at $115,000. Westside Investment Management Inc. lifted its position in American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.
Shares of American Express Company (AXP) opened at $98.52 on Friday. American Express Company has a twelve month low of $73.50 and a twelve month high of $99.75. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $84,325.84, a PE ratio of 18.61, a PEG ratio of 1.62 and a beta of 1.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.42%. American Express’s dividend payout ratio (DPR) is 26.97%.
In other American Express news, insider James Peter Bush sold 10,230 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 343,870 shares of company stock worth $33,094,717 over the last ninety days. Insiders own 0.67% of the company’s stock.
Several equities analysts have recently commented on the company. Bank of America boosted their price objective on American Express from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Barclays set a $93.00 price objective on American Express and gave the company a “hold” rating in a research report on Thursday, October 19th. Jefferies Group restated an “in-line” rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Buckingham Research assumed coverage on American Express in a research report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, August 29th. Three equities 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 presently has a consensus rating of “Hold” and a consensus target price of $91.56.
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American Express 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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