Clarkston Capital Partners LLC Has $33.65 Million Position in American Express Company (AXP)

Clarkston Capital Partners LLC cut its holdings in American Express Company (NYSE:AXP) by 8.4% during the 4th quarter, HoldingsChannel reports. The fund owned 338,850 shares of the payment services company’s stock after selling 31,159 shares during the period. American Express makes up 1.3% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 29th largest position. Clarkston Capital Partners LLC’s holdings in American Express were worth $33,651,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Westside Investment Management Inc. lifted its position in American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares in the last quarter. Dearborn Partners LLC lifted its position in American Express by 0.6% in the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock valued at $241,000 after acquiring an additional 18 shares in the last quarter. Advisory Services Network LLC lifted its position in American Express by 0.4% in the 2nd quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock valued at $475,000 after acquiring an additional 25 shares in the last quarter. Sigma Investment Counselors Inc. lifted its position in American Express by 1.2% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 3,490 shares of the payment services company’s stock valued at $294,000 after acquiring an additional 40 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in American Express by 1.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock valued at $241,000 after acquiring an additional 41 shares in the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.

American Express Company (NYSE AXP) traded up $0.29 during trading hours on Monday, hitting $98.32. The stock had a trading volume of 4,610,000 shares, compared to its average volume of 3,460,000. The company has a debt-to-equity ratio of 3.11, a current ratio of 2.37 and a quick ratio of 1.90. The stock has a market cap of $85,340.00, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. American Express Company has a 52-week low of $75.39 and a 52-week high of $102.39.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. American Express’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. research analysts anticipate that American Express Company will post 7.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid 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 46.82%.

Several equities analysts recently issued reports on AXP shares. Buckingham Research started 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. Credit Suisse Group reaffirmed a “sell” rating and issued a $79.00 price objective on shares of American Express in a research report on Wednesday, October 4th. Bank of America reaffirmed a “buy” rating and issued a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Wells Fargo & Co began coverage on American Express in a research report on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Compass Point cut American Express from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.08.

In other news, CEO Kenneth I. Chenault sold 96,440 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the sale, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Insiders sold a total of 442,869 shares of company stock valued at $42,823,869 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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