Jag Capital Management LLC lifted its holdings in American Express (NYSE:AXP) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,989 shares of the payment services company’s stock after buying an additional 1,014 shares during the quarter. Jag Capital Management LLC’s holdings in American Express were worth $1,857,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Ropes Wealth Advisors LLC lifted its position in American Express by 4.1% in the 1st quarter. Ropes Wealth Advisors LLC now owns 8,646 shares of the payment services company’s stock valued at $945,000 after purchasing an additional 341 shares during the last quarter. Sciencast Management LP lifted its position in American Express by 245.3% in the 1st quarter. Sciencast Management LP now owns 22,100 shares of the payment services company’s stock valued at $2,432,000 after purchasing an additional 15,700 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new stake in American Express in the 1st quarter valued at about $217,000. American Asset Management Inc. bought a new stake in American Express in the 1st quarter valued at about $217,000. Finally, Strategic Advisors LLC lifted its position in American Express by 23.3% in the 1st quarter. Strategic Advisors LLC now owns 8,292 shares of the payment services company’s stock valued at $906,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors own 84.86% of the company’s stock.
AXP has been the topic of several recent research reports. Bank of America set a $108.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Friday, January 18th. Credit Suisse Group reissued a “hold” rating and set a $93.00 target price on shares of American Express in a research note on Friday, January 18th. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Morgan Stanley lowered their target price on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 8th. Finally, DZ Bank cut shares of American Express from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $111.80.
Shares of AXP opened at $110.53 on Tuesday. The company has a market capitalization of $93.54 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.27 and a beta of 1.11. The company has a debt-to-equity ratio of 2.62, a quick ratio of 1.93 and a current ratio of 1.93. American Express has a 12-month low of $89.05 and a 12-month high of $114.55.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). The business had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.54 billion. American Express had a return on equity of 30.35% and a net margin of 17.08%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. As a group, research analysts forecast that American Express will post 8.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.41%. American Express’s dividend payout ratio is currently 21.28%.
In other news, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the transaction, the executive vice president now owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
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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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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