WINTON GROUP Ltd lifted its stake in American Express (NYSE:AXP) by 22.0% during the third quarter, Holdings Channel reports. The institutional investor owned 290,800 shares of the payment services company’s stock after acquiring an additional 52,412 shares during the quarter. American Express makes up approximately 0.6% of WINTON GROUP Ltd’s investment portfolio, making the stock its 15th largest position. WINTON GROUP Ltd’s holdings in American Express were worth $30,967,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in American Express by 1.4% in the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after purchasing an additional 626,323 shares during the period. Fisher Asset Management LLC raised its holdings in American Express by 2.4% in the 3rd quarter. Fisher Asset Management LLC now owns 10,357,743 shares of the payment services company’s stock worth $1,102,996,000 after purchasing an additional 246,871 shares during the period. FMR LLC raised its holdings in American Express by 969.9% in the 2nd quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after purchasing an additional 8,689,714 shares during the period. American Century Companies Inc. raised its holdings in American Express by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock worth $541,201,000 after purchasing an additional 282,496 shares during the period. Finally, Boston Partners raised its holdings in American Express by 2.2% in the 2nd quarter. Boston Partners now owns 4,911,540 shares of the payment services company’s stock worth $481,331,000 after purchasing an additional 103,576 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.
In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 209,957 shares of the company’s stock, valued at $21,801,934.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of American Express stock in a transaction on Thursday, August 30th. The shares were purchased at an average cost of $0.17 per share, with a total value of $3,424,160.91. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.
Shares of American Express stock opened at $105.91 on Wednesday. American Express has a 12 month low of $87.54 and a 12 month high of $111.77. The company has a market cap of $88.60 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.40 and a beta of 1.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.58.
American Express (NYSE:AXP) last announced its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The business had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that American Express will post 7.38 EPS for the current fiscal year.
The company 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio is presently 26.58%.
A number of equities analysts recently weighed in on the company. BMO Capital Markets upped their price target on American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 price target on shares of American Express in a report on Monday, July 16th. Bank of America set a $125.00 price target on American Express and gave the stock a “buy” rating in a report on Friday, October 19th. Barclays upped their price target on American Express from $113.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.70.
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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.
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