KMG Fiduciary Partners LLC increased its position in shares of American Express (NYSE:AXP) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,742 shares of the payment services company’s stock after buying an additional 1,349 shares during the period. American Express accounts for approximately 2.0% of KMG Fiduciary Partners LLC’s holdings, making the stock its 18th biggest position. KMG Fiduciary Partners LLC’s holdings in American Express were worth $5,218,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CI Investments Inc. raised its stake in American Express by 5.2% during the 3rd quarter. CI Investments Inc. now owns 424,337 shares of the payment services company’s stock valued at $45,188,000 after purchasing an additional 20,952 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of American Express by 1.7% in the 3rd quarter. Martingale Asset Management L P now owns 528,894 shares of the payment services company’s stock valued at $56,323,000 after buying an additional 8,588 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of American Express by 27.9% in the 3rd quarter. BlueMountain Capital Management LLC now owns 15,415 shares of the payment services company’s stock valued at $1,642,000 after buying an additional 3,363 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of American Express by 690.4% in the 3rd quarter. Mackenzie Financial Corp now owns 47,163 shares of the payment services company’s stock valued at $5,022,000 after buying an additional 41,196 shares in the last quarter. Finally, Smith Moore & CO. acquired a new position in shares of American Express in the 3rd quarter valued at $213,000. 84.86% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of American Express in a report on Tuesday, March 12th. DZ Bank lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Bank of America reaffirmed a “neutral” rating and issued a $108.00 target price on shares of American Express in a report on Thursday, March 14th. Finally, Atlantic Securities raised shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 target price on the stock in a report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average target price of $111.80.
Shares of NYSE AXP opened at $111.88 on Wednesday. The stock has a market capitalization of $93.22 billion, a PE ratio of 15.26, 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 1 year low of $89.05 and a 1 year high of $114.55.
American Express (NYSE:AXP) last issued its earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.06). The business had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.54 billion. American Express had a net margin of 17.08% and a return on equity of 30.35%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. Analysts expect that American Express will post 8.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be given a $0.39 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.39%. American Express’s dividend payout ratio is 21.28%.
In related news, EVP Richard Petrino sold 2,444 shares of the 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 sale, the executive vice president now directly owns 7,591 shares in the company, valued at approximately $813,072.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stephen J. Squeri sold 12,500 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were 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. Company insiders own 0.21% of the company’s stock.
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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