St. Johns Investment Management Company LLC cut its position in shares of American Express (NYSE:AXP) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,083 shares of the payment services company’s stock after selling 1,133 shares during the period. St. Johns Investment Management Company LLC’s holdings in American Express were worth $1,074,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. Destination Wealth Management raised its stake in shares of American Express by 165.4% during the 2nd quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after purchasing an additional 660 shares in the last quarter. Tuttle Tactical Management purchased a new stake in shares of American Express during the 2nd quarter worth about $105,000. Lenox Wealth Advisors LLC raised its stake in shares of American Express by 1,173.8% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock worth $114,000 after purchasing an additional 986 shares in the last quarter. Kiley Juergens Wealth Management LLC purchased a new stake in shares of American Express during the 2nd quarter worth about $148,000. Finally, Guidant Wealth Advisors raised its stake in shares of American Express by 280.7% during the 2nd quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock worth $150,000 after purchasing an additional 595 shares in the last quarter. 82.89% of the stock is owned by institutional investors.
In other news, CFO Scott Murcray acquired 350,000 shares of the firm’s stock in a transaction dated Monday, September 3rd. The shares were bought at an average price of $0.28 per share, with a total value of $98,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marc D. Gordon sold 25,948 shares of American Express stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the sale, the insider now directly owns 33,111 shares in the company, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. Insiders sold a total of 47,448 shares of company stock worth $4,942,168 in the last ninety days. Insiders own 0.20% of the company’s stock.
A number of research analysts have recently commented on the company. Stephens raised American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective on the stock in a report on Monday, September 17th. Barclays increased their price objective on American Express from $113.00 to $115.00 and gave the company a “hold” rating in a report on Friday. Bank of America set a $125.00 price objective on American Express and gave the company a “buy” rating in a report on Friday. Oppenheimer reissued a “buy” rating and set a $114.00 price objective on shares of American Express in a report on Thursday. Finally, Morgan Stanley increased their price objective on American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $112.17.
AXP traded down $2.20 during midday trading on Monday, reaching $104.53. The company’s stock had a trading volume of 271,108 shares, compared to its average volume of 3,325,776. The firm has a market capitalization of $91.90 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. The company has a quick ratio of 1.92, a current ratio of 2.58 and a debt-to-equity ratio of 2.62. American Express has a twelve month low of $87.54 and a twelve month high of $111.77.
American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.11. The firm 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 31.44% and a net margin of 9.51%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 EPS. As a group, analysts anticipate that American Express will post 7.38 earnings per share for the current year.
American Express announced that its Board of Directors has authorized a stock buyback program on Thursday, June 28th that permits the company to buyback $3.40 billion in outstanding shares. This buyback authorization permits the payment services company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be issued a $0.39 dividend. The ex-dividend date is Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a yield of 1.49%. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio (DPR) is 26.58%.
American Express Profile
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.
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