Renaissance Group LLC Sells 23,628 Shares of American Express (AXP)

Renaissance Group LLC decreased its position in American Express (NYSE:AXP) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 359,870 shares of the payment services company’s stock after selling 23,628 shares during the quarter. American Express comprises 1.2% of Renaissance Group LLC’s holdings, making the stock its 24th largest position. Renaissance Group LLC’s holdings in American Express were worth $35,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in AXP. Veritas Asset Management LLP lifted its position in American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after buying an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC bought a new stake in American Express in the second quarter valued at approximately $101,526,000. Janus Henderson Group PLC lifted its position in American Express by 55.9% in the third quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after purchasing an additional 959,824 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in American Express by 373.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,155,096 shares of the payment services company’s stock valued at $114,710,000 after purchasing an additional 911,306 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in American Express by 11,602.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock valued at $75,909,000 after purchasing an additional 893,400 shares during the last quarter. Institutional investors own 83.56% of the company’s stock.

In other news, CEO Kenneth I. Chenault sold 96,440 shares of the 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 sale, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ashwini Gupta sold 57,306 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $95.04, for a total value of $5,446,362.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,110 shares of company stock worth $31,858,001. 0.67% of the stock is owned by insiders.

AXP has been the subject of several recent research reports. Barclays boosted their price objective on American Express from $112.00 to $119.00 in a research report on Friday, January 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Wednesday, November 1st. Oppenheimer set a $99.00 price objective on American Express and gave the company a “buy” rating in a research report on Thursday, October 19th. 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. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 price objective on shares of American Express in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $101.56.

Shares of American Express (NYSE AXP) opened at $91.72 on Friday. The firm has a market capitalization of $76,678.78, a price-to-earnings ratio of 31.63, a P/E/G ratio of 1.21 and a beta of 1.19. American Express has a 12 month low of $75.51 and a 12 month high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. analysts predict that American Express will post 7.13 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were paid a $0.35 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.53%. American Express’s payout ratio is 48.28%.

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

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