Vanguard Group Inc raised its holdings in American Express (NYSE:AXP) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,872,420 shares of the payment services company’s stock after purchasing an additional 364,282 shares during the period. Vanguard Group Inc owned about 5.84% of American Express worth $5,310,914,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. IMS Capital Management acquired a new stake in American Express in the third quarter valued at approximately $75,000. Federated Investors Inc. PA grew its holdings in American Express by 44.7% in the third quarter. Federated Investors Inc. PA now owns 14,882 shares of the payment services company’s stock valued at $1,585,000 after purchasing an additional 4,595 shares during the period. Rehmann Capital Advisory Group grew its holdings in American Express by 6.4% in the third quarter. Rehmann Capital Advisory Group now owns 5,949 shares of the payment services company’s stock valued at $634,000 after purchasing an additional 358 shares during the period. Matthew Goff Investment Advisor LLC grew its holdings in American Express by 2.0% in the third quarter. Matthew Goff Investment Advisor LLC now owns 50,272 shares of the payment services company’s stock valued at $5,354,000 after purchasing an additional 987 shares during the period. Finally, Great Lakes Advisors LLC grew its holdings in American Express by 8.7% in the third quarter. Great Lakes Advisors LLC now owns 873,753 shares of the payment services company’s stock valued at $93,046,000 after purchasing an additional 69,588 shares during the period. 82.84% of the stock is currently owned by institutional investors.
Several brokerages have commented on AXP. Barclays set a $118.00 price objective on American Express and gave the company a “hold” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Friday. Buckingham Research lowered American Express from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research note on Thursday, November 29th. They noted that the move was a valuation call. Oppenheimer set a $114.00 price target on American Express and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, Stephens set a $131.00 price target on American Express and gave the stock a “buy” rating in a research note on Saturday, October 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $112.83.NYSE AXP traded down $0.71 on Friday, reaching $105.99. 88,100 shares of the company were exchanged, compared to its average volume of 3,467,964. The firm has a market capitalization of $91.82 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a fifty-two week low of $87.54 and a fifty-two week high of $114.55.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.11. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. As a group, sell-side analysts forecast that American Express will post 7.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 4th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 3rd. American Express’s dividend payout ratio (DPR) is currently 26.58%.
In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the transaction, the chairman now owns 209,957 shares of the company’s stock, valued at $21,801,934.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.baseballdailydigest.com/news/2018/12/14/vanguard-group-inc-buys-364282-shares-of-american-express-axp.html.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
Recommended Story: Why is the LIBOR significant?
Want to see what other hedge funds are holding AXP?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).
Receive News & Ratings for American Express Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for American Express and related companies with MarketBeat.com’s FREE daily email newsletter.