Schaper Benz & Wise Investment Counsel Inc. WI lowered its holdings in shares of American Express Company (NYSE:AXP) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,748 shares of the payment services company’s stock after selling 1,615 shares during the quarter. American Express makes up 2.3% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 12th largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in American Express were worth $14,541,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in American Express by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after purchasing an additional 731,428 shares in the last quarter. BlackRock Inc. boosted its position in American Express by 1.1% during the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock worth $3,764,339,000 after purchasing an additional 508,030 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of American Express by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after acquiring an additional 103,546 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of American Express by 2.7% in the third quarter. Fisher Asset Management LLC now owns 11,547,390 shares of the payment services company’s stock valued at $1,044,577,000 after acquiring an additional 300,042 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its position in shares of American Express by 7.1% in the third quarter. Veritas Asset Management LLP now owns 11,039,153 shares of the payment services company’s stock valued at $998,602,000 after acquiring an additional 735,952 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.
In other news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael John O’neill sold 43,741 shares of American Express stock in a transaction on Monday, December 11th. The shares were sold at an average price of $98.85, for a total value of $4,323,797.85. Following the completion of the sale, the executive vice president now directly owns 43,731 shares of the company’s stock, valued at $4,322,809.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 343,870 shares of company stock valued at $33,094,717. 0.67% of the stock is owned by insiders.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. equities analysts expect that American Express Company will post 5.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.42%. American Express’s dividend payout ratio (DPR) is 26.97%.
Several research firms have recently weighed in on AXP. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Wednesday, November 1st. Atlantic Securities upgraded American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price on the stock in a research report on Tuesday, October 24th. Jefferies Group raised their target price on American Express from $64.75 to $93.35 and gave the company a “hold” rating in a research report on Friday, October 20th. Finally, Royal Bank of Canada raised their target price on American Express to $68.00 and gave the company an “underperform” rating in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target 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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