American Express (AXP) Shares Sold by Markston International LLC

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Markston International LLC reduced its position in shares of American Express (NYSE:AXP) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 161,061 shares of the payment services company’s stock after selling 5,003 shares during the quarter. American Express accounts for approximately 1.8% of Markston International LLC’s investment portfolio, making the stock its 13th largest position. Markston International LLC’s holdings in American Express were worth $17,152,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AXP. IFG Advisory LLC boosted its position in shares of American Express by 4.6% in the 3rd quarter. IFG Advisory LLC now owns 14,091 shares of the payment services company’s stock valued at $1,500,000 after purchasing an additional 620 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of American Express by 16.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 137,688 shares of the payment services company’s stock valued at $14,662,000 after purchasing an additional 19,881 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of American Express by 6.3% in the 3rd quarter. Gulf International Bank UK Ltd now owns 250,046 shares of the payment services company’s stock valued at $26,627,000 after purchasing an additional 14,850 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of American Express by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 117,789 shares of the payment services company’s stock valued at $12,543,000 after purchasing an additional 1,800 shares during the period. Finally, BP PLC boosted its position in shares of American Express by 36.6% in the 3rd quarter. BP PLC now owns 112,000 shares of the payment services company’s stock valued at $11,928,000 after purchasing an additional 30,000 shares during the period. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the company. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective for the company in a research report on Monday, September 17th. Bank of America set a $125.00 price objective on American Express and gave the stock a “buy” rating in a research report on Friday, October 19th. Wells Fargo & Co raised their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Morgan Stanley raised their price objective on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. American Express currently has a consensus rating of “Buy” and a consensus target price of $112.70.

Shares of American Express stock opened at $108.50 on Friday. The stock has a market cap of $89.68 billion, a PE ratio of 18.48, a PEG ratio of 1.42 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 52-week low of $87.54 and a 52-week high of $111.77.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.11. The business had revenue of $10.14 billion during 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 was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. Equities analysts expect that American Express will post 7.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.44%. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, October 4th. American Express’s payout ratio is currently 26.58%.

In other news, insider Marc D. Gordon sold 25,948 shares of American Express stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total transaction of $2,797,972.84. Following the completion of the sale, the insider now directly owns 33,111 shares in the company, valued at approximately $3,570,359.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott Murcray purchased 350,000 shares of American Express stock in a transaction dated Monday, September 3rd. The shares were purchased at an average price of $0.28 per share, with a total value of $98,000.00. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

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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.

Further Reading: What is a closed-end mutual fund (CEF)?

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).

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

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